Guyana, India to sign MoU to boost cooperation in oil and gas sector

Vice President Dr Bharrat Jadgeo said that Guyana and India will likely sign a Memorandum of Understanding (MoU) to boost cooperation in the oil and gas sector

Jadgeo, who visited the South Asian country last week, expressed Guyana’s readiness to sign the MoU awaiting India’s Cabinet’s approval

During an interview with an Indian news outlet, Jagdeo laid out several plans for Guyana, which has one of the world’s largest oil reserves, equivalent to more than 11 billion barrels to partner with India in energy

He referenced discussions with India on oil supplies, a focal point of President Irfaan Ali’s visit to New Delhi in January

This year, some 14 oil blocks offshore Guyana are being auctioned

“We also explored the possibility of India examining the abundant resources that we ’ ve had outside of those that are on auction now,”

Bharrat Jadgeo said

Adding that another opportunity for India