Geopolitics of oil and water in Guyana: Part 1 – By Ivelaw Griffith

By Ivelaw Lloyd Griffith – OilNOW

In the first of this two-part series on Guyana’s current flood travails, I offer an analysis of the country’s geography and environmental circumstances against the backdrop of the country as a petro state. The second article will explore the impacts of the flooding, explore strategies for current and future governments to leverage oil revenues, aid recovery efforts, and mitigate future disasters.

Oil Blessings 

Mother Nature has been blessing Guyana effusively in recent years, with 19 offshore oil finds between May 2015 and April of this year by a three-member consortium of ExxonMobil, Hess Corporation, and China’s National Offshore Oil Corporation.     Just recently, on June 9, the consortium announced its 20th discovery. Total oil reserves are now estimated at close to 10 billion barrels equivalent. Oil production began in December 2019 and now stands at almost 120,000 barrels per day, with projections to hit 800,000 barrels per day by 2025 and one million barrels per day two years afterwards.

READ MORE: https://oilnow.gy/featured/geopolitics-of-oil-and-water-in-guyana-part-1-ivelaw-griffith/

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Comments

  • Dennis Albert  On 06/18/2021 at 11:14 pm

    Rain still falling heavy.

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