American multinational company, Chevron is establishing itself in Guyana, and its Chief Executive Officer, Mike Wirth, believes that the tiny South American country is a key energy player whose resources will help satisfy growing global demand.
“Guyana will play a major role in delivering the energy that drives this progress for decades to come,” Wirth declared at the country’s annual Energy Conference on Tuesday.
“In just a few short years, Guyana has become one of the world’s leading sources of new oil discoveries – and one of its fastest growing economies,” Wirth added.
Wirth’s presentation at the conference was filled with praise for Guyana— not just the country’s abundant oil and gas resources that have made it a global hotspot, but also for the country’s leadership. Wirth said the Irfaan Ali administration seems intent on transforming resource potential into tangible benefits for citizens.
Beyond that, however, he believes the country’s oil resources — estimated at more than 11 billion barrels of proven oil equivalent reserves — can help fuel the world’s growing energy needs.
“Guyana’s arrival as a major energy power comes at a crucial moment. An expanding global population, the race for AI, and the moral imperative to conquer energy poverty—these powerful forces signal the need to unleash a new era of energy abundance,” Wirth contended.
As he spoke about Guyana’s resources, Wirth pitched Chevron as a key partner for the country.
Chevron closed its US$55 billion acquisition of Hess last July, with the main asset being a 30% stake in the prolific Stabroek Block in Guyana.
The post For Chevron, global energy needs still rising & Guyana is a key player appeared first on News Room Guyana.
