The Ministry of Natural Resources (MoNR) yesterday announced the release of the draft Model Petroleum Agreements for both the deepwater and shallow-water area, and the commencement of a fourteen-day consultation period before finalisation.
According to a statement from the ministry, “The draft Model Petroleum Agreements embodies rigorous research and analysis by the ministry’s internal team, and external consultants on all topics relevant to a modern petroleum agreement for Guyana. It added, “The process involved a comprehensive assessment of the current petroleum agreement and the identification of best practices relevant to every contractual aspect of a modern agreement grounded in the Guyana context.”
