Guyana, one of the world’s fastest‑growing oil producers, is poised for further expansion as geopolitical tensions with neighbouring Venezuela show signs of easing, industry and geopolitical experts said ahead of this week’s Guyana Energy Conference.
The four‑day event, starting Tuesday in Georgetown, will bring government officials and energy executives together to discuss training for the local oil and gas workforce, ways to attract more investment and plans to develop downstream capacity.
While Guyana’s offshore oil promise has been well documented for years, recent developments in Venezuela have intensified global attention on the region after U.S. forces removed Venezuelan President Nicolás Maduro from power in January, a move followed by calls from U.S. President Donald Trump for a $100 billion investment to revive Venezuela’s energy sector.
The shift has raised hopes that a long‑running border dispute which led Georgetown and the Exxon Mobil‑led consortium to halt exploration in about 30 % of the rich Stabroek Block could be eased, unlocking more of Guyana’s offshore potential.
Henry Ziemer, an associate fellow at the Centre for Strategic and International Studies, said the risk of political flare‑ups between the two neighbours is now “very low,” removing a key barrier to foreign investment.
“If there’s any country that reaps the greatest benefit from Maduro’s removal, I would say it’s probably Guyana,” Ziemer said, underscoring broad expectations that stability could boost investor confidence.
Exxon Mobil CEO Darren Woods said the change in Venezuela may lead to better operating conditions in Guyana, where his company operates the prolific Stabroek Block alongside Chevron and China’s CNOOC.
Woods noted a potential reduction in Venezuelan naval patrols could create a “friendlier environment” for offshore work.
Any move toward détente could also influence the International Court of Justice case overseeing the Guyana‑Venezuela border dispute and potentially lead to renewed exploration in previously restricted waters.