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

CMC – Vice President of Guyana, Dr Bharrat Jagdeo, has disclosed that his country and India are likely to 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 which is awaiting the approval of India’s Cabinet.

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.

“We don’t want India’s involvement only in defining our gas policy, but also from an investment perspective to develop those resources,” he said.

Other areas of collaboration include agriculture and defence, noting that Guyana has identified a large number of areas of technical skills available in India to aggressively recruit into the CARICOM nation’s agricultural efforts.

Specific reference was made to support the development of Guyana’s capabilities in sugar, rice, biofuels, livestock development and a range of cash crops.

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