Guyana can become 4th largest oil producer in Latin America – expert

Guyana is tipped to become one of the largest and most promising non-OPEC oil producers in the world and could encroach on certain markets due to its offshore costs being competitive.

Director of the Inter-American Dialogue’s Energy, Climate Change and Extractive Industries Program, Lisa Viscidi expressed this view recently during an S&P Global Platts podcast titled “A new President for Guyana, the next non-OPEC oil giant.”

Viscidi was at the time commenting on the political developments here and the impact those changes would have on Guyana as the country moves to develop its oil and gas resources.

The South American country is home to the biggest oil discovery in recent years. US oil giant, Exxon has estimated that there are eight billion barrels of recoverable reserves in the Stabroek Block, and until recently, it predicted that the country would produce 750,000 barrels of oil per day by 2025.