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