World class oil production will propel Guyana’s economy for the next 30 years.
World class oil production will propel Guyana’s economy for the next 30 years. Numbers represent “barrels of oil per day” (bopd).
■ Liza Phase I - 120,000 bopd 2020
■ Liza Phase II - 220,000 bopd 2022
■ Payara - 220,000 bopd 2023
■ Turbot - 220,000 bopd 2025
Production is scheduled to grow to 750,000 bopd by 2025, resulting in over $6 Billion/year of revenue to the Country of Guyana at current prices. By the end of the decade, production is slated to be 1.2 million bopd with a resulting inflow of $10 billion/year to the country.
✓ Long term (30 + years) capital commitment by oil majors such as Exxon, Total, Hess, and Shell. Over $22 Billion USD is projected.
✓ Offshore investment is independent of market price of oil thus ensuring a continuous flow of capital development in Guyana.
✓ Over the coming decade, Guyana’s population of only 800,000 is slated to become one of the wealthiest nations in the world (on a per capita basis).
✓ GDP is expected to triple in 5 years time.
✓ No other country in the world offers similar growth opportunities.
✓ Desperate need to modernize banking, services, infrastructure, industrial and social development to meet the needs of the growing middle class.
✓ Think Dubai in 1970.
✓ $200 Billion commitment from USA International Development Finance Corp. and 5 other agencies from US State Department.
✓ British based law and court system. Clear land entitlement process. English is primary language.