Guyana has commenced a 14-day consultation following the release of the draft Model Petroleum Agreements for both the deepwater and shallow-water areas.
The draft Model Petroleum Agreements contain research and analysis by the ministry's internal team, and external consultants on all topics relevant to a modern petroleum agreement for Guyana.
The Guyanese government says to ensure new investments are governed by a comprehensive framework of international best practices, the Model Petroleum Agreements will be followed by an overhaul of the 1986 Petroleum Act.
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