Guyana wants Indian oil companies to participate in its next offshore auction as it seeks to diversify investment and production beyond ExxonMobil’s Stabroek Block, the country’s High Commissioner to India, Dharamkumar Seeraj, has said.
During a December interview with ANI News, the official said Guyana would welcome interest from Indian private sector or state-owned firms, both in buying crude and in bidding for exploration acreage.
“It is our hope that we will attract a wide cross-section of investors in the oil and gas sector, coming from different countries. And quite frankly, we would be very happy if Indian companies can show some interest in actually bidding for these locks that we will put up for auction,” the official said.
Guyana closed its first offshore auction in 2023, offering 14 blocks but receiving bids for only eight. While the government identified preferred bidders for several areas, it ultimately awarded just two blocks in late 2025. Those are the Shallow water block S4 and the Shallow water block S7.
As part of preparations for a new bid round, the government has sanctioned a 3D seismic survey across three deepwater blocks that were offered in the first auction but not awarded. One of those blocks had previously been announced for an award, but the process was never finalised. Including it in the seismic programme suggests it will be re-offered.
Guyana’s Vice President Bharrat Jagdeo has suggested that the lack of pre-bid seismic data may have limited interest in the first auction. The new survey is intended to provide prospective bidders with more detailed geological information and make the next round more attractive.
Guyana has not formally announced the timing of its second offshore auction, but comments by officials suggest it could take place this year.
All of Guyana’s current oil production comes from the Stabroek Block, operated by ExxonMobil alongside partners Hess, which has been acquired by Chevron, and CNOOC. Production offshore Guyana is around 900,000 barrels per day. Exxon is expected to start supplying natural gas for domestic power generation this year, with additional gas volumes potentially available for export in the future.
The government has said it wants oil and gas production to come from multiple blocks over time, providing diversification.