Russians Interested in Exploring Guyana's Oil Sector

Russian companies are interested in exploring for oil in Guyana, the latter country's President Bharrat Jagdeo said in a government statement.

The announcement follows a visit by Jagdeo to Russia earlier this month.

The companies will meet with the Guyana geology and mines commission to see which blocks are available, he said. Meeting dates were not provided.

Guyana has a few onshore and offshore blocks available, although a significant part of the offshore areas already have been awarded.

Companies that hold exploratory licenses are ExxonMobil (NYSE: XOM), Repsol YPF (NYSE: REP), Century Guyana and CGX Energy, the report said.

Exploratory work is pending the resolution of a border dispute with Suriname.

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