Guyana’s 2015 oil find and more specifically the country’s anticipated 120,000 barrels per day production is expected to be the main driver behind the Caribbean Development Bank’s (CDB) projected regional GDP growth of 4.1% for 2020, the Bank’s President Dr Warren Smith declared at a press conference in Barbados on Tuesday.
The announcement by the CDB President in Barbados coincided with the public disclosure by the Director of the local Department of Energy, Dr Mark Bynoe, that Guyana was on the verge of accessing its first million barrels of oil from the Liza Field in the oil-rich Stabroek Block.
The attention of the CDB and the region as a whole has shifted to the prospects which Guyana’s oil & gas sector now holds for playing a critical role in the growth of the Bank’s profile as a key driver of economic development in the region.
