Dec 22, 2022
Building momentum for growth: Guyana 2022 Licensing Round could inject additional capital in one of the world’s fastest growing super basins
On December 9, 2022 Guyana's Ministry of Natural Resources (MNR) launched the Guyana 2022 Licensing Round which offers 14 blocks for tender in shallow water and deepwater areas. The round build on the success of the recent E&P activity in Guyana that has led to over 15 billion barrels of oil equivalent being discovered since the Liza discovery by ExxonMobil in 2015. Guyana owes its success to a combination of above ground and below ground factors that are paving the way for accelerated growth. The resource endowment combined with attractive fiscal terms and expediency in bringing the discoveries to market are some of the key drivers for success.
This article was published by S&P Global Commodity Insights and not by S&P Global Ratings, which is a separately managed division of S&P Global.