Guyana leveraging energy boom to expand jobs, diversify economy and maintain long-term growth, says President

President Ali addreses the gathering

President Dr Irfaan Ali said Guyana is leveraging its rapidly growing oil and gas sector to promote economic diversification and long-term sustainability.

Speaking at the opening of the 5th Energy Conference and Supply Chain Expo at the Guyana Marriott Hotel, under the theme “Building Tomorrow’s Future Today,” Ali said the country aims to convert its energy advantage into broader economic growth through partnership and integration.
“A bold approach, partnership, and risk-taking are necessary for Guyana to transform its energy resources into long-term prosperity,” he said.

Ali cited a survey of conference participants, noting that 65 per cent believe the world is not heading in the right direction, while more than 90 per cent see Guyana on the right path. He stressed that challenges such as cost of living, conflict, climate change, labour shortages, and technology deficits require energy-driven solutions.

Major projects outlined include a deep-water port connecting Guyana with Brazil and the wider region, expanded gas-to-energy development, and industrial growth. Guyana’s oil sector, led by ExxonMobil and partners Hess and CNOOC in the Stabroek Block, has over 50 discoveries, with estimated resources of 11 billion barrels. Production currently exceeds 800,000 barrels per day and is expected to surpass one million barrels per day next year.

Ali said the country’s energy advantage will be used to diversify the economy, expand infrastructure, create sustainable jobs, and secure long-term national prosperity.