As the tiny nation of Guyana sends off its first tanker full of crude, the world welcomes a newcomer to the ranks of high volume oil producers.
With fresh discoveries this month off small nearby countries, this small stretch of Atlantic Coast between Venezuela and Brazil seems likely to soon become one of the world’s newest oil producing regions.
ExxonMobile, the first driller to develop Guyana’s offshore block, has begun pumping the first phase of its projects with daily output of about 120,000 barrels. It expects up to 750,000 per day on multiple phases by 2025, putting this single project above the daily output of India.
