Government wants local participation in the planned auction of available offshore oil blocks and is hoping for help from the United States with the process.
“We want a model that… will benefit Guyana. I think that is a model in which some blocks can be developed thoroughly and we can have a state oil company that is a different one—one in which the government does not have any management interests, or does not play any part in managing, nor do we put any investment in, but that the Guyanese people are part of what comes out of it, the returns from it,” President Irfaan Ali said when asked by the Stabroek News on Thursday about the stalled auction process.
