Guyana’s Offshore Drilling Bonanza Is Just Getting Started | OilPrice.com

a light oil and condensate discovery in the Corentyne Block with the Kawa-1 well, is committed to spending $186 million in Guyana during 2022. That represents an increase of $46 million from the driller’s initial budget of $140 million. The northern section of the Corentyne Block is adjacent to the prolific Stabroek Block and believed to share that block’s petroleum fairway which bodes well for further discoveries.

These latest developments indicate that Guyana’s oil boom will see the country become a major oil producer in Latin America, that will one day, the region’s leading petroleum producer. To ensure that the former British colony’s oil industry keeps growing at an impressive pace Georgetown is focused on building out the required infrastructure to support the petroleum industry.

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