Eco Atlantic Negotiates New Guyana Oil Deal | Guyana News

Guyana News Today | 2 Min News | The Daily News Now! · Jul 3, 2026 · 1m

Eco Atlantic Oil & Gas is racing against time to secure a new oil deal for Guyana’s Orinduik Block, negotiating under the country’s revamped Production Sharing Agreement set to finalize by Q3 2026. With the old license expired and no extension, Eco and partner Navitas face tougher terms: a 10% royalty, 10% corporate tax, and reduced cost recovery from 75% to 65%—a stark contrast to the previous deal’s 1% royalty and tax-free government share. Meanwhile, talks continue for potential Canje Block extensions, while Eco pushes forward with appraisal proposals for past discoveries like Jethro-1 and…