How Guyana Must Prepare to Cope With ‘Jeopardies and Perils’ of Oil Discovery

Recent huge offshore oil discoveries are believed to have set Guyana– one of the poorest countries in South America–on a path to riches. But they have also highlighted the country’s development challenges and the potential impact of an oil boom.

Oil giant ExxonMobil has, over the last three years, drilled eight gushing discovery wells offshore with the potential to generate nearly US$20 billion in oil revenue annually by the end of the next decade.

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