With only one offshore ultra-deep oil block remaining, the PPP/C government has not yet made a decision on the mechanism for disposal of the 9000 km² area offshore, called Block C, Vice President Bharrat Jagdeo says.
Jagdeo, who holds the portfolio for oversight of the oil and gas sector, told Stabroek News that while a decision has not yet been made, when it is, competition and transparency will be the hallmarks of the process.
“We have not decided as yet or formed a decision as to the particular method for allocating new licensing,” he said.