Monday, March 27, 2023

Leader of South America’s largest oil-producing nation for Guyana visit

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President of the Brazilian Republic, Jair Bolsonaro is set to visit Guyana on Friday, May 6, to strengthen relations between Guyana and Brazil.

President Dr. Mohamed Irfaan Ali had said that Guyana should improve its relationship with its Portuguese-speaking neighbour.

Brazil is the largest oil producer in South America, and is projected to be the largest oil producer in the world by 2030.

Leaders in the region have, for years, envisioned the establishment of a regional energy corridor, which would make use of various energy sources to guarantee energy security for Guyana, Suriname, French Guiana and parts of Norther Brazil. With the discoveries of extensive reserves of natural gas in Guyana and Suriname, there is growing excitement that they could be tapped into, to make this corridor a reality.

In early January, President Ali had listed oil and gas, energy and food security, telecommunication, infrastructure integration, and trade as critical areas for Brazil and Guyana to move their relationship forward.

Brazil looking to tap oil at same geologic trend delivering big discoveries in Guyana | OilNOW

The President had also said that in addition to oil and gas, expanding opportunities in the other non-oil natural resources sector such as bauxite will create an opportunity for a direct link to northern Brazil and the Atlantic that can create a platform for both nations to develop an integrated project.

The two Presidents met up in Dutch-speaking Suriname in January with President Chandrikapersad Santokhi, resulting in an agreement between Brazil and Suriname for analysis and cooperation on several matters, including opportunities in energy and oil and gas.

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