Eco (Atlantic) Oil & Gas Ltd. is in ongoing discussions with the Government of Guyana to continue appraisal and exploration activity on the Orinduik Block, after the block’s licence reached the end of its second renewal term on January 14, 2026. The company, in an official release today (January 14), said the discussions are being held jointly with its partner Navitas Petroleum LP and involve the Ministry of Natural Resources and the Guyana Geology and Mines Commission. Eco said Guyana’s Petroleum Act allows it to retain rights to the Jethro-1 and Joe-1 discoveries while its submitted appraisal programme is under review. Eco said the engagement forms part of the normal regulatory process and is aimed at agreeing on an appraisal and new exploration work programme that meets national objectives and shareholder expectations. The company said it will update the market as discussions progress. “We continue to engage constructively with the Government of Guyana and our partners as we work through the next phase of our exploration and appraisal work in the basin,” Gil Holzman, President and Chief Executive Officer of Eco Atlantic, said. “Our focus remains on preserving access to existing discoveries, progressing appraisal activity, and evaluating opportunities to enhance the Block configuration in a manner that is aligned with both shareholders’ values and as importantly Guyana’s government national objectives.” Eco’s update follows a previously announced farm-in arrangement under which Navitas agreed to pay up to US$8.5 million for options to enter offshore licences in Guyana and South Africa. Navitas has already agreed to pay US$2 million for exclusive options over the Orinduik Block and Block 1 in South Africa’s Orange Basin. Under the Guyana option, Navitas may pay a further US$2.5 million within 12 months to acquire an 80% working interest and operatorship of Orinduik, subject to regulatory approval. Navitas would then carry Eco’s remaining 20% interest for up to US$11 million in exploration spending, excluding mobilization costs. The proposed work could include drilling a new exploration well or appraising the Jethro-1 and Joe-1 heavy oil discoveries made in 2019. Eco has said the partnership brings technical capability and financial backing to advance the block toward potential commercialization. Holzman previously said joint visits to Guyana would help finalize appraisal and exploration plans. Former partners in the Orinduik Block included Tullow Oil, TotalEnergies and QatarEnergy, which exited the licence between 2023 and 2024. Sorce: https://oilnow.gy/featured/eco-atlantic-navitas-in-talks-with-guyana-govt-to-extend-orinduik-appraisal-rights/
On November 20, 2025, seismic research began in the shallow offshore area off the coast of Saramacca and Coronie. This survey is a joint project between Staatsolie Maatschappij Suriname N.V., the Chinese Bureau of Geophysical Prospecting (BGP Offshore), and the Norwegian/American company Tomlinson Geophysical Services Inc. (TGS). The seismic survey in the Shallow Offshore area is being conducted in an area of approximately 2,000 km² with water depths ranging from twenty to fifty meters. Over the course of two months, high-quality seismic data (information about the geology of the seabed) will be collected to map potential oil and gas deposits. This survey is an important step in further exploiting Suriname’s offshore oil and gas potential, aligning with the Open-Door Offering that started on November 24, 2025. The Open-Door Offering invites international investors to participate in new exploration and development opportunities in our offshore areas. These initiatives are in line with Staatsolie’s vision to position Suriname as an attractive and competitive destination for international investors. The project is executed by BGP Offshore and TGS. These two international companies have extensive experience in seismic research and have previously carried out successful projects in Suriname. The ship BGP Prospector will be used for this research. The boat will tow eight streamers, each six kilometers long, at a depth of nine meters. Streamers are long cables that record the reflection of sound waves from the subsurface beneath the seabed. This limits the ship’s maneuverability, so it is accompanied by support vessels to ensure that fishing boats and commercial ships keep a safe distance. The research is being conducted on the basis of a multi-client agreement. This allows the consortium to collect and sell the data to third parties. Staatsolie owns the data, can use it for its own exploration activities, and receives a share of the proceeds from its sale. This model provides access to high-quality data without bearing the full costs. The project is being carried out in accordance with the National Environmental Authority’s (NMA) guidelines. The MMMP, which was approved by the NMA, guarantees that the research will be conducted in an environmentally responsible manner. From August to October of this year, stakeholders, including Coronie and Saramacca residents and fishermen, were informed and consulted for the composition of the MMMP, and their feedback was incorporated into the final plan. Source: https://www.staatsolie.com/en/news/staatsolie-initiates-seismic-study-in-shallow-offshore/