Vice President Bharrat Jagdeo has reaffirmed that Guyana will continue its oil and gas exploration activities without interruption, emphasizing the government’s commitment to developing the country’s natural resources to drive long-term economic growth and improve livelihoods.

At a recent press conference, Jagdeo stated, “We have no intention of stopping any exploration for more oil and gas. In fact, we are encouraging this.” He highlighted that exploration efforts are crucial for expanding reserves and supporting future development, while also generating local employment and business opportunities under the country’s Local Content Law.

Jagdeo explained that the government recently conducted an offshore auction even before finalizing the new Production Sharing Agreement and updated Petroleum Activities Act, demonstrating its intent to keep Guyana competitive in the global energy market. With a strengthened legal framework now in place, Guyana plans to issue more seismic contracts to attract further investment.

Addressing speculation about gas exports, particularly to Trinidad and Tobago, the Vice President clarified that there is currently no gas available for export. All associated gas from the Liza fields is allocated to domestic power generation and fertiliser production through the upcoming Gas-to-Energy project. However, the government is exploring additional gas development opportunities from other fields via public-private partnerships, with companies like Fulcrum LNG and ExxonMobil engaged in preliminary discussions.

With proven gas reserves in the Stabroek Block, Guyana aims to develop this resource to support energy needs and potential regional cooperation. The government’s strategy balances boosting exploration with ensuring that gas resources contribute to national development priorities.

In summary, Guyana’s leadership is pushing forward with aggressive exploration plans while carefully managing its gas resources to maximize economic and social benefits for the country.