Guyana’s oil discovery, a game changer

Subject :Geography

Section: Economic Geography

Context:

In December 2019, into the Floating Production Storage and Offload vessel (FPSO), aptly named as Liza “Destiny “. It is on course to become one of the largest per capita oil producers in the world by 2030.

Details:

Guyana with its 800,000, population and spread over an area of 215,000 sq.km, is among the least densely populated countries.
A 2017 economic survey categorised over 40 per cent of its population to be living below the poverty line.
Cut to 2022, it is ranked as the fastest growing economies in the world.
Guyana’s dominant economic activity was plantation which required labour from India during the colonial period.
Today people of Indian origin are the single largest ethnic group forming 40 per cent of its population.

Major oil fields in the world:

Oilfield	Region
1. Al-Ghawār oil field 2. Saffaniyah offshore field	Saudi Arabia
1. Al-Burqan	Kuwait
1. Kamchatka peninsula 2. Sakhalin Island 3. Volga-Caspian Region	Russia
1. North Slope region of Alaska 2. East Texas	USA
1. Athabasca region	Western Canada
1. Orinoco belt	Venezuala
1. Libya, Algeria, Nigeria (Niger delta) and Egypt	Major oil producer in Africa region

Major Oil fields in India:

On-shore fields in India:
- Brahmaputra Valley: Dehang basin, Surma valley, Dibrugarh and Sibsagar.
  - Digboi oilfield
  - Naharkatiya oilfield
- Barmer region of Rajasthan: Ankleshwar, Cambay basin, Khambat- luni, Ahmedabad-kalol, Barkol, Kathrina, and Sanand.
- Gujrat coast: Mangala, Saraswati and Rajeshwari oilfields
Off-shore oilfields:
- Western coast oilfields: Bombay high, Bassein and Aliabet
- Eastern coast oilfields: Rava fields in Godavari-Krishna basin, Narimanam and kovilappal oilfields of the Kaveri delta.
In addition to this Andaman & Nicobar, Gulf of Mannar, Baleshwar coast have possibilities of oil fields in India.