THE GROWTH OF GUYANA!

Guyana is at the topmost of South America in between, Venezuela and Suriname, formerly known as, Dutch Guyana. It has a population of 800,000 People. Guyanese in diaspora are being encouraged to return home to help with expertise. Since, 2015 Guyana's economy has seen good growth due to its oil find. From, 2020 to 2022, its Real GDP growth averaged 42.3% per year, driven by oil production, that started in, 2019. By, 2022 GDP grew by 63.4%. The Guyanese Government expects huge revenues from the oil sector. By, 2030, the country is estimated to earn around $157 Billion. Guyana's reserves are huge but, much smaller than Saudi Arabia's. Saudi Arabia has a proven reserve of almost 267 Billion Barrels. In 2023, oil contributed to GDP, making Guyana a fast-growing economy. This trajectory will continue. An area of 26, 800 square kilometres known as Stabroek Block contains 11 Billion Barrels of recoverable oil. By 2035, Guyana is projected to produce 1.7 Million Barrels per day. Only 3% of the Stabroek Block has been explored, so there's room for more discoveries. The Guyanese Government has a 59% Share under its Production Sharing Agreements. The major players in this venture are: ExxonMobil, Stabroek at 45% Hess Corporation with 30% Chaina National Offshore Oil Corporation with 25%.