Guyana

EITI Status Yet to be assessed against the 2016 Standard
EITI Member Since 2017
Website EITI Guyana

Status of Guyana

The EITI Board has approved Guyana’s EITI candidature application at the Board meeting in Manila in October 2017. 

Overview

Guyana is located on the north-eastern Atlantic cost in South America. With a population of less than 800 000 habitants, more than one third of the population is living below the poverty line.

Guyana’s economy grew steadily in the last decade, largely based on exports of natural resources, both agricultural (mainly forestry) and mineral. In 2016, gold production made up almost 60% of total exports.  

Guyana is expected to become an oil producer country by 2020, as the “Liza” project starts production. This offshore block is one of the largest oil discoveries of the past decade, with resources estimated at 2.25 to 2.75 billion oil-equivalent barrels. Exxon Mobil recently announced an investment of over $4.4 billion to develop it.