Deepwater port to expand European trade

June 02, 2026

France urged Guyana to fast-track the planned deepwater port as a gateway to expand trade with Europe. French Ambassador to Guyana, Oliver Plançon told the Private Sector Commission (PSC), 34th Annual General Meeting that France is an integral part of the region with its overseas communities .

“Actually, France and Guyana are neighbours, we fully support the move of our French communities to join CARICOM, the upcoming admission of Martinique as an associate member is a major development, and French Guiana will most likely be next. We are no strangers.”

Ambassador Plançon said that everyone is a neighbour, a part of the same region and sharing a largely common culture, with much to offer, illustrated during the Caribbean Public Health Agency (CARPHA) conference. While he would be very happy if the gap between the English and French speaking neighbours can be bridged, he warned that the challenges lying ahead must not be overlooked.

“Trade between our countries remains limited, particularly due to connectivity issues. The absence of a deep-water port in Guyana is a barrier to exchanges between Guyana and Europe, as well as the weakness of air connectivity.”

He commended the efforts of a local airline establishing a route between Georgetown, Paramaribo, and Cayenne, saying that it is a push in the right direction. In April, the United States Export Import (US EXIM) Bank signaled its interest in another key infrastructure development to Guyana, the deep-water port, to be constructed in Berbice.

Chairman of the U.S. EXIM Bank, John Jovanovic said a letter of interest was issued to the leader at a meeting with President Irfaan Ali and other Cabinet members at State House. This was disclosed by one of the members of the visiting delegation of the bank during a video statement shared by President Ali.

“One of the highlights from the lunch was our chairman issuing a letter of interest for the deep-water ports and so this is yet another project in which we can support the infrastructure requirements of the Guyanese people.”

The U.S. EXIM Bank provided the Government of Guyana (GoG) with a US$527 million loan to finance the Wales Gas-to-Energy (GTE) project. The U.S. Embassy noted that the leaders discussed exciting opportunities ahead.

“EXIM stands ready to finance additional development projects that align with Guyana’s national priorities, bringing the same transparency, competitive terms, and reliability that characterise U.S. partnership.”

 

 

 

Block holder Ratio Petroleum buys Pharos in £124M deal

June 26, 2026 –

Israel-based Ratio Petroleum strengthened its global portfolio through a £124.3 million (US$164 million) acquisition of London-listed Pharos Energy.

The deal centers on producing assets in Egypt and Vietnam. The transaction comes amid heightened commodity price volatility linked to Middle East conflict, which lifted energy companies’ share prices. Against that backdrop, Pharos sought an improved offer from Ratio to reflect its stronger cash flow generation.

Ratio Petroleum holds petroleum interests in Guyana, Morocco Atlantic, and the East Palawan Basin in the Philippines.

In Guyana, Ratio, operator of an oil block, has been at crossroads with the Government in relation to the 3.3-million-acre offshore block.

The company announced that the government gave it seven days to submit its work programme and drilling timetable for the Kaieteur Block for the next two years. Ratio said it intends to approach the Minister of Natural Resources Vickram Bharrat to request an additional extension for providing its response while continuing negotiations regarding the update of the work programme and drilling schedule.

In December 2025, the ministry asked Ratio and partner Cataleya Energy Limited (CEL) to indicate whether they intend to make an additional investment or abandon the acreage.

Prior to the aforementioned disclosure, Ratio Guyana notified the government of the portion of the block it is prepared to relinquish while continuing its search to bring in a new partner.

 

 

 

Former U.S. envoy leads industry delegation

June 11, 2026 –

Former United States Ambassador to Guyana, Sarah-Ann Lynch is leading a U.S. Industry Executive delegation to discuss investment opportunities with Guyana government officials. Lynch served for almost five years as the US envoy to Guyana, until 2023.

The delegation discussed investment opportunities across the aviation, energy, water and maritime sectors with Minister of Public Utilities and Aviation, Deodat Indar, Parliamentary Secretary, Thandi McAllister, Director General Alfonso De Armas, and Executive Director of the American Chamber of Commerce Richard Leo .

The delegation discussed investment opportunities within Guyana’s rapidly expanding agriculture sector with Agriculture Minister Zulfikar Mustapha, Director General of the Ministry, Dhaneshwar Deonarine and President of the Caribbean Poultry Association and Managing Director of Bounty Farm Ltd, David Fernandes.

Several competitive advantages position Guyana to become a leading agricultural producer, including vast expanses of flat, arable land and abundant freshwater resources. Minister Mustapha highlighted the significant transformation within the sector and outlined the government’s vision of the country as a major regional agricultural powerhouse.

While Guyana has made substantial gains in increasing agricultural production, the government is developing a robust agro-industrial sector to move beyond primary production and add greater value to agricultural commodities. The government is actively creating opportunities for strategic partnerships between local stakeholders and international investors. These include linking local farmers and landowners with investors interested in large-scale agricultural production and agro-processing ventures and promoting Public-Private Partnerships (PPPs) to accelerate growth across the sector.

The minister underscored the government’s commitment to ensuring that the local private sector plays a central role in development of new agricultural industries.  The ongoing corn and soya bean project in the Tacama Savannah, conceptualised by President Irfaan Ali is being developed through collaboration between the government and private sector partners. He highlighted the significant market opportunities within the Caribbean Community (CARICOM), where there is strong demand for commodities produced in Guyana.

Guyana is in talks with the USA to expand U.S. private sector engagement in Guyana and increase commercial ties and investment. The Minister of Foreign Affairs Hugh Todd and Foreign Secretary Robert Persaud held high-level engagements in Washington, D.C., aimed at strengthening bilateral relations between Guyana and the U.S. across key areas including energy, defence, diplomacy and economic cooperation

Bauxite is one of Guyana’s most historically significant and critical mineral assets, some of the highest-grade deposits are recognized for their low iron content and high suitability for specialized production. Bauxite ore used to make aluminium is of strategic importance and highly valued globally.

Guyana is expanding bauxite and industrial-processing sectors. An Economic Driver, the mineral is central to economic diversification and industrial development plans and the government and international partners are exploring establishment of alumina refineries.

Guyana is a leading exporter of bauxite, of Global Standing, as international powers seek to invest in the local mining supply chain. While bauxite is a legacy pillar, in a broader Critical Minerals context, Guyana is actively prospecting for other critical, energy-transition minerals such as lithium, copper, nickel and rare earth elements.

 

 

 

CGG Shallow-water survey

June 26, 2026

The Government of Guyana and American firm, CGG Services Inc. commenced Geotechnical Surveying and Seismic surveying operations within Block S4 of Guyana’s Exclusive Economic Zone to determine the potential of oil resources within that area.Block S4, a shallow water block was awarded to French oil giant, Total Energies on November 11, 2025.

According to a notice by the Maritime Administration Department (MARAD), the exercise is scheduled to conclude on November 15, 2026. The SV BGP Prospector and OSV Moonrise-G will be used in the survey area of 1782.28 square nautical miles (6113.05 square kilometers), approximately 16.98 nautical miles (31.4 kilometers) offshore. Seismic surveys are routinely used in offshore and gas exploration activities worldwide to detect and define geological structures under the seabed.

According to the Environmental Permit granted to the company, CGG will be required to submit a report to government on the survey three months after completing the process.

Section 10.19 of the Permit states: “The Permit Holder shall submit an Operational Summary of the Seismic Survey within three (3) months after completion of the survey. The use of maps, figures and tables should be included where applicable. The Operational Summary should include a copy of the report prepared by the Marine Mammal Observers and Passive Acoustic Monitoring Observers.”

An operational summary for a seismic survey provides a detailed account of the lifecycle of the data collection process in the field. The document is the official record of the type of equipment used, how it was deployed and what challenges the crew encountered. A key feature of the summary is data quality and preliminary processing where evaluation of the signal-to-noise ratio and data quality in the field is explained.According to the three-year permit obtained by CGG, the 3-D seismic survey will be conducted in shallow water between Lots 2-4, offshore Guyana.

An application for the initial oil exploration works was made by CGG, an affiliate company of the Viridien group. Viridien is a global advanced technology, digital and Earth data company that provides a comprehensive range of data, products, services and solutions for complex digital, energy transition, natural resource, environmental and infrastructure challenges.

In addition to proprietary offshore projects for clients such as Exxon, which discovered the successful Liza field from CGG data, CGG acquired the only two offshore multi-client projects available for licensing in Guyana (Stabroek Phase 1 & 2).

Regionally, CGG recently completed a multi-client project in Suriname in 2023. Covering 1,800 sq km, Phase IV completed the programmed 14,500 sq km survey of newly acquired 3D data in deep and shallow water in the Guyana-Suriname basin.

On November 11, 2025, CGG applied for an Environmental Authorisation to the EPA, to conduct geophysical 3D surveys within shallow waters offshore of Guyana. The areas for the shallow water survey are outlined on a map attached. The survey area is east of the border of Venezuela and west of the border of Suriname. The closest shore distance is around 120 km away and ranges with water depths approximately 10 to 70 metres deep.

The survey process According to the Project Summary, a research vessel with a towed streamer will be used for the seismic acquisition. Towed streamer 3D seismic acquisition allows for the efficient and comprehensive mapping of offshore geological formations, providing valuable insights for oil and gas exploration and production activities. This is a common method used to gather detailed subsurface geological information in offshore exploration for oil and gas. CGG currently plans to use the BGP Prospector for this project. The vessel is fully furnished with state-of-the-art equipment for seismic 3D surveys.

Activities will be conducted in eight phases beginning with setup and deployment, data acquisition and closing with data processing and interpretation. Marine seismic data acquisition is based on the principle of ‘seismic reflection’. The method involves releasing pulses of acoustic energy ( sound waves) at regular intervals along designated transect lines.

In general, the energy penetrates subsurface formations and is reflected back to the surface where it can be detected by acoustic receivers, or hydrophones, encased in a long cable ( streamer), towed behind the seismic vessel. Each time a seismic pulse meets a change in rock properties; part of the pulse is reflected back to the surface and received by the hydrophones. Consequently, by measuring precisely the difference in arrival time of reflected seismic energy, distinct subsurface rock layers can be identified, and subsequently mapped. This map helps geoscientists understand the geology and structure of natural resources. It plays an integral role in decision making when exploring for and developing oil and gas reserves in ocean waters.

 

 

 

 

Eco (Atlantic) Oil & Gas update

18 June 2026

Eco (Atlantic) Oil & Gas, the oil and gas exploration company focused on the offshore Atlantic Margins, announced a mid-year update on the progress of workstreams across its portfolio in Namibia, Guyana, the Falkland Islands and South Africa.

Since the beginning of 2026, Eco significantly strengthened its portfolio through the introduction of major industry partners, strategic farm-out transactions and continued advancement across its Atlantic Margin acreage.

These transactions position Eco with broad, multi-basin exploration exposure that is largely carried through key upcoming work programmes whilst maintaining a strong cash position. With several regulatory approvals and operational milestones expected, Eco is entering a period of high-impact newsflow driven by multiple near-term transaction completions, drilling catalyst and basin level developments.

Namibia

Closing of Eco’s farm-down agreement with BP Namibia Energy Ltd, a wholly owned subsidiary of BP Exploration Operating Company Limited (“BP”) for PEL97, PEL99, and PEL100, announced on 12 April 2026, is progressing and, subject to the satisfaction of the remaining conditions, is expected to close in Q3 2026.

Cash consideration of US$2.7 million payable by BP to Eco on completion of the transaction.

BP will carry 100% of Eco’s 25% retained interest, as well as Eco’s proportionate share of the NAMCOR (10%) and Local Partners (5%) interest in PEL97, PEL99 and PEL100 for the current exploration phase, with a maximum aggregate carry consideration payable by BP in respect of Eco’s interests of US$63 million (based on a maximum of US$21 million per asset for each license).

Eco continues to work with its various partners to prepare for extensive proposed exploration work programmes, including the completion of the seismic reprocessing on PEL97 and carrying out a large 3D Seismic Survey of more than 3,000km2 on PEL99 and PEL100.

The Company expects to receive the requisite government approvals for its farm-out of PEL98 to Lamda Energy (Pty) Ltd (“Lamda Energy”) in Q3 2026.

Guyana

Alongside Navitas Petroleum LP (“Navitas”), Eco’s strategic partner, Eco applied for a new appraisal and exploration license over the Orinduik Block area, including the Jethro and Joe existing oil discoveries (Navitas 80%, Eco 20%). Eco and Navitas are currently in advanced Production Sharing Agreement (PSA) negotiations with Guyana’s Ministry of Natural Resources regarding the new licence over the Orinduik Block area, which are expected to complete in Q3 2026.

According to the Navitas Framework and Option agreement announced in December 2025, Eco’s remaining 20% working interest will be carried in respect of the work performed in the new Orinduik Block, capped at US$11 million net to Eco (excluding mobilisation costs, if any).

Falkland Islands

Following its farm-in to PL001 (announced on 12 January 2026) and its proposed acquisition of JHI Associates Inc (“JHI”) (announced on 11 March 2026), Eco is awaiting final receipt of a five-year licence extension and approval of Navitas’ operatorship of the PL001 licence from the Falkland Islands Government (“FIG”).

To date, approximately 40 prospects and leads have been identified across the licence area, with independent auditor NSAI having certified prospective resources exceeding 1.4 billion barrels of oil across 15 prospects alone.

Several mapped prospects exhibit seismic characteristics analogous to the fan systems successfully discovered at the nearby Sea Lion field. Eco’s net prospective resource attributable to its expected interest in PL001 is 490 million barrels of oil (mbbls)* (not including the proven Johnson Gas discovery).

Together with incoming operator Navitas, Eco continues to advance the technical evaluation of the broader prospect inventory, focusing on high-impact drilling opportunities. Multiple stacked fan targets may provide the potential for a single exploration well to unlock substantial resource volumes and materially de-risk the wider licence area. The block’s proximity to the Sea Lion development offers significant potential development synergies, leveraging existing infrastructure plans and economies of scale to support an efficient and commercially attractive pathway to monetisation.

Eco notes Navitas’ Memorandum of Understanding (MoU) for an additional optional FPSO for the neighbouring Sea Lion development, which would potentially add an additional 125,000 barrels per day (bpd) to the project’s planned initial production capacity of 55,000 bpd. The Board believes this is a very encouraging signal of Navitas’ commitment to the Falkland Islands and its focus on finding ways to accelerate production across its projects over Sea Lion and PL001.

South Africa

At Block 3B/4B, Eco is awaiting a decision from South Africa’s Department of Forestry, Fisheries and the Environment (the “DFFE”) regarding the Environmental Impact Assessment (EIA) process for drilling permits for the block with approval expected to enable the spudding of the first exploration well on the block.

As previously announced on 6 March 2024, Eco has secured a fully carried position through the first two exploration wells on Block 3B/4B, representing up to US$11.5 million of drilling and associated well costs funded by its farm-in partners.

At Block 1 CBK, Navitas’ farm-in, announced on 20 May 2026, is continuing to progress well with the regulatory administrative process to close the farm-in well underway, with a cash payment of US$4 million due to Eco upon completion.

Navitas’ farm-in has been very well received by in-country stakeholders, with both Eco and Navitas’ technical teams working closely and collaboratively on the oil and gas prospects and the exploration potential of Block 1 CBK.

The Company is encouraged to see the South African government’s renewed focus on the importance of supporting the development of local oil and gas resources amid an impending drop in domestic gas supplies, the country’s need to reduce its reliance on coal, and a growing appreciation of gas’ role as a strategic enabler for South Africa’s energy transition.

Gil Holzman, President and Chief Executive Officer of Eco Atlantic, commented:

‘In what has already proven to be a transformational year to date, multiple further value accretive workstreams remain underway across our portfolio of four diversified Atlantic Margin basins. It is good to see the a number of the sector’s largest players returning to high impact Atlantic Margin exploration, and we believe Eco is perfectly positioned in four of the most attractive jurisdictions. We are excited about the coming months and the number of additional corporate, operational and financial catalysts that lie ahead.’

*- source: Navitas Petroleum (PL001 – Navitas Petroleum)

Source: Eco (Atlantic) Oil & Gas

 

 

 

Guyana in PRC to discuss infrastructure projects

June 11, 2026

A Guyanese delegation met leaders of major Chinese companies executing infrastructure projects in Guyana on the sidelines of the 12th China–LAC Infrastructure Forum and the 17th International Infrastructure Investment and Construction Forum in Macau, where Public Works Minister Juan Edghill is representing Guyana, accompanied by Head of Procurement and Contracts at the Public Works Ministry, Andy Mahadeo.

Minister Edghill engaged executives from Chinese construction firms undertaking major infrastructure projects in Guyana, including the global executive leadership of China Railway Construction Corporation (CRCC) and China CAMC Engineering Co. Ltd.

Edghill said, “Discussions focused heavily on project implementation, challenges affecting ongoing works, lessons learned, and strategic measures to improve project delivery in support of Guyana’s national development objectives.”

CRCC completed the US$260 million new Bharrat Jagdeo Demerara River Bridge and is currently building the new Wismar/Mackenzie Bridge in Linden, Region 10. The 233-metre-long fixed, high-span concrete bridge is slated to be completed in the coming weeks.

China CAMC Engineering completed six new modern regional hospitals across Guyana. The company is currently contracted to design and construct a new modern general hospital at Bartica, Region Seven.

These two high-level events convened government officials, industry leaders, development partners and technical experts from across the region and beyond to discuss emerging trends, best practices, and innovations in infrastructure development.

As a keynote speaker, Minister Edghill underscored that Guyana’s invitation to the forum strongly signals its position as a rising leader in the infrastructure sector.   Reaffirming the spirit of bi-regional cooperation, Minister Edghill emphasised that Guyana and the Latin America region look forward to working with China to strengthen the cooperation implementation process, optimising the benefits to both sides.

“We have clear developmental visions, ambitious infrastructure plans, rich natural resources and a deep commitment to sustainable development. Guyana, which I have the honour of representing, is one of the most rapidly developing economies in the world. We are consciously heightening our investments in infrastructural projects, to which China has been a major partner.

This 12th China-LAC Infrastructure Forum is a bold recommitment to the declaration that China and the Latin America region are partners in development. We all remain committed to the shared vision of a green, digital, and connected future.”

Guyana looks forward to continued collaboration with like-minded States to effectively confront global challenges while working towards the sustainable development of their respective countries and peoples. A programme of cooperation for inclusive development across the divide is entirely achievable through committed partnerships. He urged delegates to pursue a dedicated plan of action targeting the enhancement of the partnership.

“Innumerable opportunities abound for us to build areas of cooperation and to strengthen collaboration mechanisms, such as joint projects, capacity building, and knowledge sharing.”

Guyana’s active participation reflects the Government’s unwavering commitment to maintaining constructive engagement with international partners while aggressively advancing its agenda of modernising and expanding critical public infrastructure .

 

 

 

 

Guyana Development Bank

June 11, 2026

President Irfaan Ali is urging a positive mindset as his Government is setting the stage to roll out the interest and collateral free, Guyana Development Bank, a game-changer, to allow young entrepreneurs to build prosperity by providing much needed financing.

Finance Minister Dr. Ashni Singh, tabled the Guyana Development Bank Bill 2026 in the National Assembly, inching one-step closer to the establishment of the Bank. Under the Bill, the Guyana Development Bank will provide small and medium size enterprises and budding entrepreneurs with access to loans of up to $3 million at a zero per cent interest rate. The programme will also pair financing with mentorship and training to help businesses grow and improve their chances of long-term success.

“The first phase of this development bank, would create opportunities for thousands of Guyanese. We want every single person that would embark on a journey of success and fulfilment with the Guyana development bank to have a positive mindset.

This is a business opportunity, loan that is interest free and collateral free, but it’s not a grant, it is meant to allow you to build a business and to build prosperity, to build an enterprise and to build off of our creativity.”

The President said while the legislation is going through the National Assembly, work is being done to ensure the smooth setting up of the Development Bank as soon as the legal and administrative procedures are in place.

“The Development Bank is also building ground up, we are building from the grass root up, it is not a top-down approach, that is why, you will see cabinet members and different mentors and leaders from the community, leaders in businesses bringing clusters of persons together, so that we can discuss ideas and strategies and bring similar projects together so we can have shared experience.”

The Bank will  comprise a Board of Directors, a CEO, Credit Officers in the various Regions, Financial Analysts, technical officers and facilitators. The goal is to ensure economic transformation and to invest in talent. Persons benefiting from the Bank must be ready to work hard, as the Government is trying to build a culture of hard work, patience and sacrifice.

“The Development Bank would empower communities, through investments in families and individuals. One of the important aspects is, it gives us the opportunity now, to invest in the idea of every Guyanese”.