A London oil company, Tullow Oil met with President Bharrat Jagdeo last evening and finalized arrangements to commence drilling for oil in Guyana. According to information out of Office of the President, the process is expected to start in April next year.
The Tullow/Repsol joint venture joins the list of reputable foreign companies racing for the search of oil offshore Guyana. Among them are CGX of Canada.
Tullow Guyana has a 30% share in the Guyana Maritime Licence, in Georgetown. In September the company signed a new deepwater license offshore Suriname.
