Guyana’s emerging oil and gas industry presents significant investment opportunities. The country has abundant oil and gas reserves, with the potential to produce over 1.2 million barrels per day by 2027. The industry is expected to generate significant revenue for the country, with government revenues from first oil to the end of 2021 in excess of US$ 600 million. The government of Guyana has enacted investment-friendly laws and established a “one-stop shop” to streamline the process of setting up a business in the country.
The country’s stable political climate, abundant natural resources, strategic position, expanding consumer market, and attractive business incentives make it a popular destination for international investors.
Investment Avenues
With over 11 billion barrels of recoverable oil discovered so far, Guyana boasts one of the world’s fastest-growing oil and gas sectors. ExxonMobil’s Liza project is already operational, with several others lined up, promising a production of 1.2 million barrels per day by 2027. This translates to massive potential for investors across the value chain:
- Exploration and Production: Seismic surveys, drilling services, and wellhead platform construction offer lucrative avenues for specialized companies.
- Supply Chain and Logistics: Providing vessels, equipment, and logistics support for offshore operations presents significant business opportunities.
- Downstream Services: Investments in refineries, storage facilities, and petrochemical plants can capitalize on the future oil and gas surplus.
Beyond Oil
The oil and gas boom is also expected to trigger investments in related sectors:
- Infrastructure Development: The construction of roads, ports, and power plants will be crucial to support the industry and the wider economy.
- Renewable Energy: The influx of revenue can provide impetus for diversifying the energy mix with projects like solar and wind farms.
- Technology and Innovation: Guyana offers fertile ground for startups and businesses developing cutting-edge solutions for the oil and gas industry and its environmental impact.
According to the U.S. Department of Commerce, the rapid ramp-up in Guyana’s oil and gas sector creates opportunities for oil and gas support service companies and suppliers. U.S. firms are competitive in this sector, and the government of Guyana prioritizes investments in agriculture and manufacturing as it seeks to advance and diversify its economic base.
The Guyana Office for Investment encourages investors seeking to participate in Guyana’s oil and gas sector to register with the Secretariat and explore opportunities in oil and gas exploration and development, provision of drilling and seismological equipment, shore base services, and deep water port.
