First Oil in Guyana: Lift-Off for a New Helicopter Market?
Many column inches have been dedicated to the prolific success of ExxonMobil and partners in Guyana. Following 14 successful discoveries in the Stabroek block and estimated gross recoverable resource of over 6 billion barrels of oil equivalent, the Liza field achieved first oil on the 20th December 2019. This is a huge milestone for the country where oil revenues can, and likely will, make a massive difference to the prosperity of the nation where average GDP per capita is currently $6,900. If you value each gross recoverable barrel in the Stabroek block at $60, that’s half a million dollars worth of oil in place for each of the 750,000 inhabitants.
But what does this mean for the local crew transfer business? Has the helicopter market lifted off in parallel with Exxon’s fortunes? Who is flying there? Which aircraft are preferred? Air and Sea Analytics takes a closer look at the Guyana crew transfer market…