Agreements signed to boost cooperation, investments between Guyana & Ghana

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Guyana’s Vice President, Bharrat Jagdeo, today participated in the signing of several agreements intended to further cement relations with Ghana.

The three agreements signed are: a Framework Agreement on Cooperation between the Government of the Co-operative Republic of Guyana and Government of the Republic of Ghana; a Memorandum of Understanding between the Ministry of Natural Resources of the Cooperative Republic of Guyana and the Petroleum Commission, Ghana on Cooperation in the Petroleum Sector of the Cooperative Republic of Guyana; and a Memorandum of Understanding On Mutual Cooperation In Investment Promotion Between Guyana Office For Investment and Ghana Investment Promotion Center.

Today’s activity culminated the four-day visit by the Ghanaian Vice President Dr Mahamudu Bawumia and his delegation.

The two countries officially established diplomatic relations on May 14, 1979.

Ghana has already offered to provide support to Guyana in the area of oil and gas.

Ghana has been producing and exporting crude oil since 2011, having discovered the resource in commercial quantities back in 2007.

Guyana begun producing oil in December 2019 in the Stabroek Block offshore, where there is said to be some 9 billion barrels of oil equivalent.