Guyana is working with the Indian government on awarding oil and gas exploration blocks to Indian companies, Vice President Bharrat Jagdeo said on Feb. 22.
The South American nation, home to one of the largest oil discoveries of the last decade, has also offered 14 offshore exploration blocks in its latest global auction round.
Jagdeo said the blocks to be awarded to Indian companies would be separate from those offered in the auction.
"Indian companies have expressed interest in the 14 blocks, but there are other areas [where] we're hoping to work directly with the Government of India, like...we're doing with Qatar and Brazil," Jagdeo told reporters at an event in New Delhi.
Guyana's president had said previously that his country was looking at awarding exploration blocks to Indian companies as part of broader negotiations with India.
India is the world's third biggest oil importer and consumer, buying over 84% of the oil it needs from overseas.
Indian companies are scouting for acreage overseas and want to secure oil supplies through long-term deals.
Recommended Reading
Western Haynesville Wildcats’ Output Up as Comstock Loosens Chokes
2024-09-19 - Comstock Resources reported this summer that it is gaining a better understanding of the formations’ pressure regime and how best to produce its “Waynesville” wells.
August Well Permits Rebound in August, led by the Permian Basin
2024-09-18 - Analysis by Evercore ISI shows approved well permits in the Permian Basin, Marcellus and Eagle Ford shales and the Bakken were up month-over-month and compared to 2023.
Kolibri Global Drills First Three SCOOP Wells in Tishomingo Field
2024-09-18 - Kolibri Global Energy reported drilling the three wells in an average 14 days, beating its estimated 20-day drilling schedule.
Permian Resources Closes $820MM Bolt-on of Oxy’s Delaware Assets
2024-09-17 - The Permian Resources acquisition includes about 29,500 net acres, 9,900 net royalty acres and average production of 15,000 boe/d from Occidental Petroleum’s assets in Reeves County, Texas.
Seadrill to Adopt Oil States’ Offshore MPD Technology
2024-09-17 - As part of their collaboration, Seadrill will be adopting Oil States International’s managed pressure drilling integrated riser joints in its offshore drilling operations.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.