Latest update July 24th, 2026 12:30 AM
Latest News
- MV Barima Disaster… 72 confirmed dead
- Parliament must determine COI’s composition for MV Barima probe – Dr. Campbell
- Nine victims of MV Barima tragedy laid to rest
- Transparency Int’l Guyana demands IMO probe of MV Barima tragedy
- Police detain, then apologise to, peaceful protesters at national vigil for MV Barima victims
Brazil, Qatar, India, Kuwait in line-up to benefit from Guyana’s Oil Blocks – Jagdeo
By Davina Bagot
Kaieteur News – With 14 of Guyana’s Oil Blocks presently up for auction, the government will be awarding special spots to countries with particular interest.
Vice President Bharrat Jagdeo announced on Tuesday, “We’ve gone out to auction now for 14 blocks and we still have remaining some areas where we hope to work through a bilateral arrangement with the governments of Brazil, Qatar, India and those others who have expressed (interest). Kuwait has just expressed some interest in that regard.”
Last month it was reported that Vice President, Bharrat Jagdeo is soon expected to leave Guyana to tie up agreements with the Government of India for cooperation in the blossoming local oil and gas industry.
Vice President Bharrat Jagdeo
President Irfaan Ali along with a high-level team were in India for a seven-day trip and entered into several new agreements with the Indian state for collaboration in other sectors, inclusive of manufacturing and power generation among others.
It is the Vice President, however, who manages the Petroleum sector that will visit India to tie up related arrangements.
Jagdeo in announcing the auction of 14 of Guyana’s oil blocks last November had said the process, “is consistent with the promise we made while in Opposition that future blocks will be given out only through auction. We are not going to do this directly, except if it’s a state-to-state engagement with the government participating.”
During his visit, the Guyanese President met with India’s Minister of Petroleum and Natural Gas and Housing and Urban Affairs, the Honourable Shri Hardeep S Puri in Delhi, India, where the leaders discussed “direct Government-to-Government cooperation across the oil and gas spectrum, including increased long-term offtake, participation in exploration and production activities in Guyana, technical cooperation in the midstream and downstream sectors, and capacity building, as well as the synergies which exist between the two countries,” a release from the Head of State detailed.
It was also noted that the two countries have agreed to set up technical teams to advance these discussions.
Reuters reported that Ali when asked if Guyana would offer blocks to Indian companies through direct negotiations said, “Apart from the auction, we are discussing Government-to-Government partnership in a number of areas including exploration.”
In October last year, President Ali related that his Government has set aside certain oil blocks which would be used for Government-to-Government partnerships.
The Head of State made the disclosure during a press conference with British High Commissioner, Jane Miller.
Ali refused to divulge further details on which specific blocks were set aside as well as what special purpose vehicle would be used to represent the State’s interests in such matters. He did pledge however to distill such details at the appropriate time.
The President said this development followed engagements that were held earlier in the year with former UK Prime Minister, Boris Johnson as regards energy security.
Share this:
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.
Similar Articles
Blunt of the day
Sports
Features/Columnists
Sir. Ronald Sanders
The GHK Lall Column
Weekend Cartoon
