The Indian Government is working on a memorandum of understanding (MoU) with the Guyana Government that would see persons in the oil and gas sector benefitting from training in India, High Commissioner Dr K J Srinivasa said.
During an interview with Stabroek News, he said that the proposed training would see oil executives and technicians being trained in various aspects of the industry.
“One thing we are working very closely upon is to see if we can sign an MoU with your government for the training of your oil executives and the oil technicians so that we can help build the capacity here,” he said.
He explained that the process has been initiated but the signing of any agreement between two nations would have to be preceded by intense groundwork. Srinivasa said that the Guyana Government is looking at areas in which capacity need to build and comparing that with what India has to offer.
“The agreement, you know, any MoU that happens with a foreign country has to be vetted by the Foreign Office, the legal department and the concerned ministry. So, we have been told that it is in process. So when it is done, we will be very willing to sign this agreement,” he said.
The Indian Diplomat also noted his government’s interest in buying Guyana’s share of oil.
“We have taken two lifts already. Last year March and last year July, but this was not part of a long-term deal… we are expressing our desire to take Guyana’s oil because the second FPSO is here. So, if a long-term government to government contract can be done, we will be very happy to take the oil,” he said.
Srinivasa explained that India is trying to diversify its supply sources and with increased production in Guyana it is looking to the country as one of the prospective sources. However, he added that they have been unable to secure a deal that guarantees long-term supply.
“So we are willing to take Guyana share of oil… let us see how it pans out. With this extra [production] that will come on stream, they’ll be able to work out something because the problem for us is we need a finality.
“So we are very happy to work with the government of Guyana and getting this oil is important for both Guyana and India because you will get an assured buyer and we will get an assured supplier. So we are with the Government of Guyana, you know we are working with them very closely and let us see how fast it can be done,” he explained.
A 2021 Reuters report had said that India, one of the world’s largest oil consumers has been seeking to reduce its dependence on crude from the Middle East following OPEC’s decision to extend production cuts through to April 2021.
The first million-barrel cargo of Guyana’s Liza light sweet crude reportedly set sail on March 2 on Marshall Islands-flagged tanker Sea Garnet bound for India’s Mundra port.
Efforts to contact Minister of Natural Resources Vickram Bharrat for a status update on the discussions as well as the agreement were futile.
