Guyana has emerged as a significant destination for foreign investment, driven by its substantial offshore oil discoveries and strategic economic initiatives. In 2023 alone, the country attracted approximately $7.2 billion in Foreign Direct Investment (FDI), marking a 64% increase over the previous year and positioning Guyana as the sixth-largest FDI recipient in Latin America and the Caribbean.
Major Foreign Investors in Guyana
United States
- ExxonMobil: Leading the consortium developing the Stabroek Block, ExxonMobil has been instrumental in Guyana’s oil sector, with estimated reserves exceeding 11 billion barrels.
- Hess Corporation: Holding a 30% stake in the Stabroek Block, Hess is currently undergoing acquisition by Chevron, pending regulatory approvals.
- CNOOC: The China National Offshore Oil Corporation holds a 25% stake in the Stabroek Block, collaborating with ExxonMobil and Hess.
- U.S. Investments: Between 2021 and 2024, U.S. companies have invested over $15 billion in Guyana, notably in the Gas-to-Energy project, a cornerstone of these efforts.
China
- Infrastructure Projects: Chinese firms have been active in Guyana’s infrastructure development, including the renovation of the main international airport with a $150 million loan.
- Mining and Construction: Chinese companies are involved in mining activities in remote areas and have invested in building hotels, bridges, and shopping centers.
Qatar
- Qatar Energy: In 2024, Qatar Energy signed production-sharing agreements to explore offshore oil and gas blocks, diversifying Guyana’s oil industry beyond ExxonMobil’s consortium.
France
- TotalEnergies: Set to sign an oil production-sharing agreement with Guyana, TotalEnergies leads a consortium aiming to explore offshore areas, contributing to the diversification of the country’s oil sector.
Malaysia
- Petronas: The Malaysian state-owned oil and gas company has entered into production-sharing agreements for offshore exploration, further expanding the range of international stakeholders in Guyana’s energy sector.
United Kingdom
- UK Investments: In 2023, the UK’s outward stock of FDI in Guyana reached £46 million, a significant increase from the previous year, indicating growing British interest in Guyana’s economic landscape.
Investment Trends and Outlook
- Diversification Efforts: Beyond oil, Guyana is focusing on sectors like infrastructure, agriculture, manufacturing, and renewable energy to ensure sustainable economic growth.
- Strategic Partnerships: The government is actively seeking partnerships to develop its Gas-to-Energy project, aiming to reduce energy costs and promote industrialization.
- Regional Leadership: Guyana’s proactive approach has positioned it as a leader in attracting foreign investment within the Caribbean region
