$20M signing bonus enters oil account from American firm for oil exploration

(Kaieteur News) – The Natural Resource Fund (NRF) has received a GYD$20M signing bonus for 3D seismic surveys being executed by CGG Services SAS.

This information was published in the third quarter NRF receipts published in the Official Gazette. According to the document, the payment was recorded on August 18, 2026 amounting to US$99,985 or GY$20,846,873. CGG Services Inc. has commenced Geotechnical Surveying and Seismic surveying operations within Block S4 of Guyana’s Exclusive Economic Zone to determine the potential of oil resources within that area.

Minister of Natural Resources, Vickram Bharrat in an invited comment on Saturday told this newspaper that a signing bonus is not ordinarily paid for seismic activities but was agreed to by the company due to government’s push in that regard. “That is due to us pushing the company to pay a signing bonus. This is not a normal practice for seismic companies and agreements so it’s a win for Guyana,” the minister explained.