Indian, European oil firms evaluating bids for Guyana blocks: Report
HOUSTON/NEW DELHI (Reuters) – Guyana’s upcoming bidding round for offshore areas has caught the interest of top energy companies from Asia to Europe, according to people familiar with the matter, even as the government continues to work out terms for the auction.
The South American country wants to quickly expand its oil industry and recruit developers to counterbalance an Exxon Mobil Corp-led consortium that now controls all production. The Exxon group has outlined plans to install at least seven vessels to tap more than 11 billion barrels discovered to date.
India’s ONGC Videsh, the overseas investment arm of state-run Oil and Natural Gas Corp, is considering a bid for some of the 14 exploration blocks the country has put on offer.
