Oil production in Guyana and Brazil is expected to substantially increase in 2023, successfully anchoring production growth in the Latin America region, according to Hart Energy- a globally-recognised provider of information on the petroleum industry
Oil production in Guyana and Brazil is expected to substantially increase in 2023, successfully anchoring production growth in the Latin America region, according to Hart Energy- a globally-recognised provider of information on the petroleum industry. Hart Energy, in a report published on Thursday, detailed that Guyana and Brazil are expected to produce an additional 850,000 barrels of oil per day in 2023 from new oil ships. Although other countries in …
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The former British colony of Guyana, to the north of Brazil and on the Caribbean has emerged as one of the continent’s top oil producers and is poised to become a leading global energy exporter. Since 2015 an Exxon Mobil-led consortium has made a swathe of high-quality oil discoveries in offshore Guyana in the 6.6-million-acre Stabroek Block, with the latest announced in July 2022. It is estimated those finds have uncovered nearly 11 billion barrels of recoverable oil resources in the Stabroek Block with further oil discoveries to come.