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Guyana, a small South American country with a population of around 800,000, is set to become one of the richest nations in the region thanks to its huge oil deposits.
As uncertainty spreads in major producer nations in the Middle East, Guyana is positioning itself as a reliable oil producer in the western hemisphere [1].
Guyana’s Oil Industry
ExxonMobil, the main operator in Guyana, has been instrumental in discovering massive oil deposits in the country.
The energy giant made a big bet on a risky oil prospect in Guyana and has now become entangled in the fight for the country’s wealth [5].
Forecasts indicate that by 2035, Guyana could produce 1.5 million barrels of oil per day, making it a major player in the global oil market [4].
Guyana’s Wealth to Skyrocket
In per capita terms, Guyana’s wealth is set to skyrocket, making it one of the richest nations in the region.
With its rich oil reserves, Guyana is on its way to becoming a major oil producer and leaving behind its status as one of the poorest countries in South America [2].
