India interested in Guyana’s oil blocks

The Indian Government has expressed an interest in oil blocks offshore Guyana and is also looking to purchase oil from Guyana after production begins in 2020.

“The Government of India is interested in having an oil block for exploration so correspondence is going on between both Governments,” India’s High Commissioner to Guyana, Venkatachalam Mahalingam told reporters at a press conference on Thursday.

In response to questions asked about potential areas of collaboration between Guyana and the Indian Government, he disclosed that during the last visit of Guyana’s Vice President and Minister of Foreign Affairs, Carl Greenidge to India, the Indian Government offered help to the developing oil and gas industry.

“It is now for the Government of Guyana to come back to us and say which area it would like to have cooperation with India,” the Indian diplomat said.

There is ongoing public debate as to how Guyana should go about leasing its remaining oil blocks.

The diplomat said his Government is also interested in buying oil from Guyana since it already purchases oil from several South American countries.

“We buy oil from Latin America and South America, we buy oil from Venezuela, Colombia, so we can also buy oil from Guyana,” Mr Mahalingam said.

He hopes that India’s interest will be further developed during the visit of India’s Prime Minister, Narendra Modi later this year to Guyana.

Guyana and India are expected to increase cooperation in areas of the sugar industry, agriculture, pharmaceuticals, and education during the visit of Mr Modi. (Bibi Khatoon)