Editorial

Suriname is Expected to Surpass Guyana in Oil Production in a Few Years

  • Posted 2 months ago
  • Oil & Gas

It seems like untold riches and wealth are about to transform two of South America’s once poorest, neighboring countries.

Since 2015, Guyanese were over-hyped about the promise of staggering oil wealth – a prospect which is pretty much still in the pipeline. In December 2019, Guyana exported “first oil” under the David Granger Administration amidst much celebration and applause. Nearly four years later, Guyana is now pumping approximately 500,000 barrels of crude per day making it the world’s fastest growing economy.

But it seems like, very soon, Guyana’s eastern neighbor will steal its crown as the world’s fastest growing oil economy. Suriname is estimated to have more than 30 billion barrels of oil and drilling has already started. With a population far less than Guyana, the former Dutch colony is also about to steal Guyana’s coveted title of having the highest proven oil reserves “per capita.”

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