Jagdeo-Ali Government Shuns Trinidad’s Offer to Help With Oil And Selects American Company Hess

The Jagdeo/Ali regime has selected the Hess Corporation to market crude shipments of Guyana’s offshore oil production.

The New York-based Hess expects 2021 exploration and production capital and exploration expenditure to be $1.9 billion, indicating an increase from the 2020 reported figure of $1.8 billion. Of the total amount, more than 80% will be allotted to Bakken and Guyana.

This comes as a blow to Trinidadian company Predator Oil & Gas Holdings who made offers for partnerships with Guyana in July 2020.

“We are looking to begin to execute our M & A strategy by building on the businesses we have initiated and developed in three separate jurisdictions. New opportunities in Trinidad and potentially Guyana …” said Paul Griffiths, Chief Executive of Predator.

“The evaluation criteria we believe was set by the Department (of Energy) resulted in the evaluators having to disqualify 28 of the 29,” Bharrat Jagdeo told reporters on Tuesday, blaming “nonsensical” criteria inherited from the prior government, without elaborating.