Guyana is negotiating with two Arab countries to explore for oil and gas

Guyana is negotiating with two Arab countries to explore for oil and gas
Guyana is negotiating with two Arab countries to explore for oil and gas
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Guyana seeks to enhance oil and gas exploration by concluding agreements with Arab and Western countries, at a time when it received an invitation to discuss the establishment of a Caribbean alliance.

Today, Monday, January 23, 2023, President Muhammad Irfan Ali said that his country is currently in talks with Qatar, Britain, the United Arab Emirates and India, with the aim of allocating offshore vessels for oil and gas exploration, according to Reuters.

Guyana, a small country in South America, has become, during the past few years, the focus of attention of companies working in the field of oil and gas exploration, especially after the discovery of huge quantities estimated at about 11 billion barrels of oil and gas.

The discussions with the 4 countries come within the framework of a round of bids that the Latin country is scheduled to present during the current year. Where it set a date for an auction for offshore oil and gas exploration areas, according to what was seen by the specialized energy platform.

Guyana oil and gas

Guyana President Muhammad Irfan Ali. Photo courtesy of The Independent Arabia

Until mid-April 2023, Guyana is scheduled to receive applications from energy companies for the competitive bidding round, which offers about 14 areas including shallow and deep water oil and gas exploration.

The Latin state held talks with the United Arab Emirates, Qatar, India and Britain separately, with the aim of allocating part of these areas by direct order instead of waiting for the results of the bids, according to information seen by the specialized energy platform.

The President of the Republic of Guyana, Irfan Ali, made it clear during an energy conference in Trinidad and Tobago that his country is playing on a number of options. Where I went out publicly on a bidding tour, while there are side discussions to open the field of cooperation between governments.

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It is noteworthy that President Irfan Ali visited India earlier this January; Where he called on Indian companies to participate in a bidding round for oil and gas exploration areas, in addition to his participation in talks with the government regarding the possibility of allocating areas for state companies, and potential oil supply contracts for the Asian country.

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Call for a Caribbean alliance

For his part, the Minister of Energy of Trinidad and Tobago, Stuart Young, proposed during the conference a Caribbean energy alliance with neighboring countries, explaining that this alliance can bring oil and gas resources from Guyana, Venezuela and Suriname to Trinidad and Tobago, which has spare processing and export capacity.

He added that the Corona pandemic and the war in Ukraine revealed the region’s crisis, which turned out to be standing on its own without support, at a time when these countries have resources from new discoveries, which, if gathered together, provide an opportunity for the region to contribute more to the global energy supply.

It is noteworthy that the last visit that the former British Prime Minister, Boris Johnson, made to Guyana, during the past year 2022, during which he discussed with President Irfan Ali, investment opportunities in energy; The President of Guyana made it clear that many cards needed to be kept on the table.

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