Guyana Seeks Indian Investment in Its Hydrocarbon Sector - Indian official

Nidhi Verma
Wednesday, January 11, 2023

Guyana wants Indian companies to invest in its oil and gas sector as the South American nation aims to expand its nascent energy sector, a senior Indian foreign ministry official said on Tuesday. 

Guyana's President Mohamed Irfaan Ali and Suriname's President Chandrikapersad "Chan" Santokhi, who are visiting India, held discussions on Monday with Indian Prime Minister Narendra Modi at a conference in the central Indian state of Madhya Pradesh. 

Guyana is home to one of the largest oil discoveries in the last decade. It currently produces 340,000 barrels per day (bpd) of oil and aims to raise it to 1.64 million bpd by the end of the decade, said Saurabh Kumar, a secretary in the Indian external affairs ministry.

He said Guyana has sought the participation of Indian state-run and private companies in its hydrocarbon sector. 

"We are looking for cooperation with Guyana, and Suriname, particularly with Guyana," Kumar said, adding Ali would meet India's oil minister Hardeep Singh Puri during his trip to New Delhi. 

"In the next 3-4 months, you will see a massive expansion of Indian investment footprint in Guyana," Ali said in an interview with broadcaster NDTV, adding that oil and gas will be among the sectors that will witness expansion of investment. 

India, the world's third biggest importer and consumer of oil, is diversifying its crude import sources and in 2021 imported Guyanese Liza crude. 

(Reuters  - Reporting by Nidhi Verma; Editing by Andrew Heavens, Susan Fenton and Marguerita Choy)


Categories: Geoscience Activity Production South America Asia

Related Stories

Second Hai Long Substation Heads to Project Site Offshore Taiwan

China Unveils Plans for New Offshore Wind Farms to Tackle Carbon Emissions

Valeura Wraps Up Infill Drilling Campaign in Gulf of Thailand

Six New Gas Wells in Line for BP’s Shah Deniz Field in Caspian Sea

ADNOC Secures LNG Supply Deal with India's BPCL

Japan's Mitsui Eyes Alaska LNG Project

Kazakhstan Looks to Improve Oil Production Agreements Terms

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

CNOOC’s South China Sea Oil Field Goes On Stream

QatarEnergy Signs Deal with Shell for Long-Term LNG Supply to China

Current News

Fire at Petronas Gas Pipeline in Malaysia Sends 63 to Hospital

Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Valeura’s Assets in Gulf of Thailand Remain Operational After Earthquake

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Keel Laying for Wind Flyer Trimaran Crew Boat

MODEC Gets Shell’s Gato do Mato FPSO Ops and Maintenance Job

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com