Feb. 3 (oilnow.gy) Data collected from new 3D marine seismic surveys across deepwater offshore blocks left unawarded or unresolved in Guyana’s first oil and gas auction will soon play a key role in establishing the country’s first Petroleum Data Repository.
The Guyana government first signalled plans to operate a petroleum data repository in 2023, citing concerns that the country is at a disadvantage because its petroleum data is currently stored overseas.
Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, disclosed during the presentation of Budget 2026 on January 26 that the platform would strengthen data management, improve exploration readiness, and position Guyana for future licensing rounds.
“The Government is currently engaging two seismic acquisition companies to conduct our first Government-led multi-client 3D seismic survey across unlicensed and licensed acreages offshore. This will facilitate the establishment of Guyana’s Petroleum Data Repository and will see storage and management of our data locally,” the Minister said.
Two new Petroleum Agreements (PAs) were signed in the final quarter of 2025 following engagements related to the 2022/2023 licensing round.
According to the Finance Minister, negotiations will continue this year for the remaining Petroleum Agreements under the revised fiscal and contractual framework. As part of the early exploration activity, the operator of Block S4 is also expected to undertake new seismic work.
He said the initiative is critical to the creation of a national data management system for the petroleum sector.
“The improved seismic coverage and new PSAs will place Guyana in a stronger position to host additional licensing rounds. Government intends to prepare for future international auctions once the new seismic data becomes available, ensuring that they are more competitive and supported by higher-quality subsurface information,” Dr Singh explained.
Guyana, the world’s largest per capita oil producer, focused its first licensing round on balancing investor interest with tighter fiscal and other terms, although the round did not benefit from seismic. Government has said it wants to pursue a second round, but not without offering seismic data to prospective bidders.
Several companies have signaled preparations to re-offer the acreage, including Latitude Energy Inc., which has applied for environmental approval to acquire and process 3D towed streamer seismic data over Blocks D1, D2 and D3 in the northeastern section of Guyana’s offshore maritime zone.
Brazil Energy Insight 
Leave a comment