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Historically, Guyana was a net importer of fuel. [3] Guyana's offshore Guyana Basin and the inland Takatu Basin have attracted foreign companies such as Shell, Total and Mobil since the 1940s, who completed much geological surveyance of the area and drilled a number of wells. [4] In the Takatu Basin, 3 wells were drilled between 1981 and 1993 ...
With 215,000 square kilometres (83,000 sq mi), Guyana is the fourth-smallest country on mainland South America after Uruguay, Suriname and French Guiana. The main economic activities in Guyana are agriculture (production of rice and Demerara sugar ), bauxite mining, gold mining, timber, shrimp fishing and minerals.
The long-standing territorial dispute over the Essequibo region escalated into a crisis in 2023. The region is controlled by Guyana but is claimed by Venezuela. The dispute dates back many years and the current border was established by the Paris Arbitral Award in 1899. Venezuela renewed its claim in 1962 and the matter was referred to the ...
In the 2010's, significant off-shore oil finds by Exxon has renewed interest in foreign investment in the country. A 2018 estimate predicts Guyana's oilfields are holding over 3.2 billion barrels. Off-shore crude oil extraction began in 2019. Forestry. Guyana contains the "largest unspoiled rainforests on the continent."
ExxonMobil said it plans to explore for oil and gas in a disputed area off South America’s coast where the Venezuelan military had previously expelled two U.S. oil companies. The move could ...
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