Guyana’s oil production stands out globally due to its low costs and low carbon emissions, making it a key player in the future energy mix, according to Ignacio Rooney, Senior Director at Wood Mackenzie’s Upstream Consulting and Carbon Management team.
“Guyana’s production is what we classify as advantaged barrels—meaning it has both low-cost production and low carbon emissions. These factors position Guyana favorably in the future global energy mix,” Rooney said during an appearance on the Energy Perspectives podcast in February.
Guyana among potential ‘energy super basins’ of the world – WoodMac
He said that while Guyana is already attractive to investors due to its significant discoveries, keeping competitiveness requires stable policies and a clear regulatory framework. “Investors want to see consistency in policies and regulations before making commitments.”
Rooney also pointed to three key trends Guyana should watch in 2025: the energy transition, global competitiveness, and local development.
“Governments should track technology adoption, infrastructure advancements, and breakthroughs that influence how energy is produced and consumed,” he said.
Guyana is positioned to play a major role in delivering low carbon intensity barrels to a global economy still dependent on fossil fuel to meet its energy needs. Hess Corporation, a 30% stakeholder in the prolific ExxonMobil-operated Stabroek Block offshore the South American country, has said the world will need those low-cost, high-value resources.
Ensuring local content policies support national economic growth while aligning with industry needs is also crucial.
Collaboration within the region is another factor strengthening Guyana’s position. Rooney noted, “One of the standout aspects has been the participation of regional representatives, including those from Suriname and Trinidad & Tobago. The private sector has also played a significant role in discussions here.”
