Oil production in Guyana likely by 2014Oil production in Guyana likely by 2014, says analyst.
"GEORGETOWN, Guyana -- The Canadian-based CGX Energy Inc, which is exploring for oil in Guyana has said that production is likely to begin in four years time as the company continues its setting up of wells in its Corentyne Petroleum Prospecting Licence (PPL).
This was revealed in an analysis “Forging Ahead – Increase Target and Maintain Rating” by a financial services firm, on January 21.
According to Canaccord Adams report, this time span is the “most likely” scenario adding that the Corentyne Licence has the potential for 400 million barrels of crude oil."
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