Guyana to establish oil industry in near future as exploration continue- Budget 2011 speech

Georgetown-  Oil exploration are being pursued off the coast of the Pomeroon and during 2010 drilling continued in the Takatu Basin for indication of Hydrocarbon. Finance Minister Ashni Singh during his budget speech today said that plans are advancing for the offshore Georgetown block and construction of a multi purpose staging base at grant canal in the berbice river in anticipation of drilling in the corentyne block. Dr. Singh said that during 2011 these activities will continue and apart from the direct impact of activity in this sector, the linkages with all suppliers of goods and services are tremendous and are already being capitalized on.