Bright future for Suriname and Guyana

Expectations are high after a string of upstream successes and both governments ending their political impasses

Crumbling oil prices and volatile energy demand have tipped Latin America into a sharp recession, exacerbated by one of the world’s worst Covid-19 mortality rates. But in Suriname and Guyana, at least, there are reasons to be cheerful. Although both countries face stark economic challenges, they have emerged from electoral turmoil with new governments eager to develop their hydrocarbon resources. And their shared offshore basin has added a further six major oil discoveries in 2020, confirming the region’s position as a global upstream hotspot. Political developments have brought much-needed stability. English-speaking Guyana emerged from over a year of uncertainty, sparked by a vote of no-co