PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 11.Feb.2025) — The government of Guyana has informed joint venture (JV) partners CGX Energy Inc. and Frontera Energy Corporation that “there are no reasonable grounds to grant any extensions to the joint venture in respect of its appraisal or exploration obligations under the License or the Petroleum Agreement related to Corentyne block offshore Guyana.”
“Government has taken the position that the license, together with the joint venture’s petroleum agreement, have terminated and that, in the opinion of the government, there are no reasonable grounds to grant any extensions to the joint venture in respect of its appraisal or exploration obligations under the license or the petroleum agreement,” CGX and Frontera announced 11 Feb. 2025 in an official joint statement.
