South America / GoM

Guyana flag
Summary | Profile

Country profile: Guyana

Location: Northern South America, bordering the North Atlantic Ocean, between Suriname and Venezuela
Climate: tropical; hot, humid, moderated by northeast trade winds; two rainy seasons (May to August, November to January)
Terrain: mostly rolling highlands; low coastal plain; savanna in south
Size: 214970 sq. km total (Land area: 196850 sq. km  Water area: 18120 sq.km)
Population: 770,794
Languages: English, Amerindian dialects, Creole, Caribbean Hindustani (a dialect of Hindi), Urdu
Government: republic
Capital city: Georgetown
Legal system: based on English common law with certain admixtures of Roman-Dutch law; has not accepted compulsory ICJ jurisdiction
Currency: Guyanese dollar (GYD)
Licensing:

Country profile

Regional leaders created the Economic Community of West African States (ECOWAS) on May 28, 1975 in Lagos, Nigeria. ECOWAS is comprised of 15 countries, which include: Benin, Burkina Faso, Cape Verde, Cote d’Ivoire , The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria , Senegal, Sierra Leone, and Togo. The leaders established ECOWAS to promote regional integration and economic growth in West Africa, as well as to create a monetary union in the region. However, ECOWAS has encountered problems in the process of regional integration including: political instability and lack of good governance that has plagued many member countries, the insufficient diversification of national economies, the absence of reliable infrastructure, and the multiplicity of organizations for regional integration with the same objectives. Originally a Dutch colony in the 17th century, by 1815 Guyana had become a British possession.

The abolition of slavery led to black settlement of urban areas and the importation of indentured servants from India to work the sugar plantations. This ethnocultural divide has persisted and has led to turbulent politics. Guyana achieved independence from the UK in 1966, and since then it has been ruled mostly by socialist-oriented governments. In 1992, Cheddi JAGAN was elected president in what is considered the country's first free and fair election since independence. After his death five years later, his wife, Janet JAGAN, became president but resigned in 1999 due to poor health. Her successor, Bharrat JAGDEO, was reelected in 2001 and again in 2006.

Energy production and consumption


Oil Gas
Production:    
Consumption: 10,500 bbl/day (2005 est.)  
Exports:    
Imports:  bbl/day (2005 est.)  
Reserves:    
Major fields:



Guyana - recent news

25 Nov 24
SBM Offshore completes US$1.5 billion financing of the Jaguar FPSO
SBM Offshore has completed the project financing of FPSO Jaguar for a total of US$1.5 billion. The project is part of the Whiptail development, which is the sixth development within the Stabroek block, offshore Guyana.
11 Nov 24
Guyana: FPSO Prosperity purchase by ExxonMobil Guyana completed
SBM Offshore and ExxonMobil Guyana have completed the transaction related to the purchase of FPSO Prosperity, ahead of the maximum lease term, which would have expired in November 2025. The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO up to 2033.
08 Jul 24
Guyana: Eight firms submit bids for 3D seismic study offshore Guyana
A total of eight firms have submitted bids and are being prequalified to conduct a 3D Seismic study of oil blocks offshore Guyana. Last month, the Ministry of Natural Resources extended a request for Expressions of Interest for a 'reputable and experienced firm' to conduct 3D Multi-Client Seismic Surveys offshore Guyana.
26 Jun 24
Guyana: Frontera Energy and CGX Energy file Notice of Potential Commercial Interest for Wei-1 Well, offshore Guyana
CGX Energy and Frontera Energy, joint venture partners in the Petroleum Prospecting License for the Corentyne block offshore Guyana, have announced that the Joint Venture has submitted a Notice of Potential Commercial Interest for the Wei-1 discovery to the Government of Guyana, which preserves the Joint Venture's interests in the License.
13 Jun 24
Viridien makes sale of Sercel Marlin vessel monitoring and alert system to ExxonMobil Guyana
Viridien, formerly CGG, has announced that its Sensing & Monitoring business line, marketed under the Sercel brand, has made a sale of its innovative Marlin™ vessel monitoring and alert system to ExxonMobil Guyana to support its offshore operations in Guyana.

Guyana - more news

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