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In 2015, Guyana announced a major discovery of oil offshore, with more substantial discoveries made in the following years. It is now expected to become one of the top oil producers in the Western Hemisphere, with a prediction of almost a four-fold GDP rise by 2025. This newly found resources bring with them an opportunity for an economic boost for the country's public sector but have also raised concerns over the institutional preparedness for such a big development. In recent years, scholar, practitioners, and commentators discussed ways to avoid a 'resource curse' in Guyana, giving recommendation on taxation, wealth distribution, and governance transparency. Concerns have also been raised about the robustness of the environmental risk regulation of the upcoming offshore development and potential disputes with the neighbouring coastal States.
This OGEL Special Issue seeks to examine the current debate on the regulation of petroleum development in Guyana. In particular, we are interested in contributions in the following areas:
Contractual arrangements for petroleum development Petroleum fiscal regime Petroleum tax regulation Safety and environmental regulation for offshore petroleum development Compatibility of the petroleum development with Guyana's climate goals Human dimension: regulation of social impacts of offshore petroleum development