Introduction
Today’s column is primarily aimed at amplifying those references, which were made last week to the dynamic features of Guyana’s ‘potentially massive’ oil and natural gas discovery. To recall, the four features mentioned, were 1) the physical/geological characteristics of the discovery; 2) going forward, the ownership, control, and organizational responsibility for producing and exporting the oil and gas; 3) the anticipated price/cost relation when this production and export come on stream; and 4) the Venezuela border controversy, which could place the gas industry in jeopardy.
Each of these four features are amplified in the order given, in today’s and coming columns. At this juncture, readers should be reminded that this ongoing discussion is directed at appraising the several complex economic, geo-political, and other considerations, involved in transforming Guyana’s discovery into a sustainable commercially viable oil and natural gas industry.
The next section starts with the key physical/geological attributes of the discovery. These
