Three of the four dailies on Friday headlined the second oil find by ExxonMobil at a well called Payara-1. Past predictions about the presence of petroleum deposits in offshore Guyana were confirmed when ExxonMobil announced its world class discovery, the largest for 2016, at its Liza well. If the Payara-1 turns out to be large, then the predictions of much greater deposits in the area could be accurate and much more oil could be found.
The amount of petroleum deposits that have already been found is enough to transform Guyana. But somehow Guyanese do not yet appear to be impressed. Casual conversations with Guyanese suggest that the cynicism that has developed from decades of promises based on Guyana’s agricultural potential,that Guyana could become the breadbasket of the Caribbean and Guyana’s failure to take off economically, continues to exist.
