There is every likelihood that Guyana will develop an oil and gas industry in the near future, Finance Minister Dr. Ashni Singh says.
In his budget presentation to the National Assembly on Monday, he noted that exploration activities were pursued in the shallower basin fringe of the coast in the Pomeroon and Northwest for any indications of hydrocarbons.
“During 2010, drilling commenced in the Takutu Basin, plans advanced for drilling in the offshore Georgetown Block, while preparations were also advanced for the construction of the multipurpose staging base at Grand Canal, Berbice River in anticipation of drilling in the Corentyne Block,” Singh said.
He said that this year, these activities are expected to continue. “Apart from the direct impact of activity in this sector, the linkages with and multiplier benefits for other suppliers of goods and services are tremendous and are already being capitalised on,” he added.
