144-611: In South America (grey) Guyana officially the Co-operative Republic of Guyana , is a country on the northern coast of South America , part of the historic mainland British West Indies . Georgetown is the capital of Guyana and is also the country's largest city. Guyana is bordered by the Atlantic Ocean to the north, Brazil to the south and southwest, Venezuela to the west, and Suriname to
288-465: A conventional reservoir can be calculated using a volume equation: Recoverable volume = Gross Rock Volume * Net/Gross * Porosity * Oil or Gas Saturation * Recovery Factor / Formation Volume Factor Deterministic volumes are calculated when single values are used as input parameters to this equation, which could include analog content. Probabilistic volumes are calculations when uncertainty distributions are applied as input to all or some of
432-664: A reasonable certainty of being recoverable under existing economic and political conditions, and with existing technology. Industry specialists refer to this category as "P90" (that is, having a 90% certainty of producing or exceeding the P90 volume on the probability distribution). Proven reserves are also known in the industry as 1P . Proven reserves may be referred to as proven developed (PD) or as proven undeveloped (PUD). PD reserves are reserves that can be produced with existing wells and perforations, or from additional reservoirs where minimal additional investment (operating expense)
576-428: A "best technical" outcome. Reservoir simulation is an area of reservoir engineering in which computer models are used to predict the flow of fluids (typically, oil, water, and gas) through porous media . The amount of oil & gas recoverable from a conventional reservoir is assessed by accurately characterising the static recoverable volumes and history matching that to dynamic flow. Reservoir performance
720-640: A National Protected Area System. More than 80% of Guyana is still covered by forests, which also contain the world's rarest orchids , ranging from dry evergreen and seasonal forests to montane and lowland evergreen rain forests. These forests are home to more than a thousand species of trees. Guyana's tropical climate, unique geology, and relatively undisturbed ecosystems support extensive areas of species-rich rain forests and natural habitats with high levels of endemism . There are about 8000 species of plants in Guyana, half of which are found nowhere else. The country
864-412: A discovery has been made, prospective resources can be reclassified as contingent resources . Contingent resources are those accumulations or fields that are not yet considered mature enough for commercial development, where development is contingent on one or more conditions changing. The uncertainty in the estimates for recoverable oil & gas volumes is expressed in a probability distribution and
1008-698: A fleet to reach Peru by sea, and sought the military support of various rebels from the Viceroyalty of Peru. In 1822 the two men met at the Guayaquil Conference in Ecuador, where they failed to agree on governance strategies for the liberated nations. Two years later Bolívar's forces beat the Spanish at the Battle of Ayacucho , securing the independence of Peru and the rest of South America. In
1152-564: A framework for a consistent approach to the estimation process to comply with reporting requirements of particularly, listed companies. Energy companies may employ specialist, independent, reserve valuation consultants to provide third party reports as part of SEC filings for either reserves or resource booking. Reserves reporting of discovered accumulations is regulated by tight controls for informed investment decisions to quantify differing degrees of uncertainty in recoverable volumes. Reserves are defined in three sub-categories according to
1296-453: A half slope on a log-plot of flow-rates against time believed to be caused by drainage from matrix surfaces into adjoining fractures. Such reservoirs are commonly believed to be regionally pervasive that may be interrupted by regulatory or ownership boundaries with the potential for large oil & gas volumes, which are very hard to verify. Non-unique flow characteristics in unconventional accumulations means that commercial viability depends on
1440-434: A key component for receiving international aid through REDD programmes. The earliest residents of Guyana employed a variety of agricultural practices for subsistence living but also had extensive networks of trade, dealing in items such as blow pipes, curare , cassava graters, and other essentials. These trade networks were important even at the time of the earliest European contact, and Dutch traders were inclined to gift
1584-475: A large impact on Guyana's GDP since drilling began in 2019. GDP grew sharply (43%) through the COVID-19 pandemic year of 2020, and is anticipated to continue at a high level in 2021 (estimated at 20%). The non-oil sectors contracted as public health measures were in place to control the virus spread; the growth of GDP rests on the oil sector for these two years. Preservation of Guyana's pristine forests has been
SECTION 10
#17327653124181728-459: A long history of colonialism , the overwhelming majority of South Americans speak Spanish or Portuguese , and societies and states are rich in Western traditions . Relative to Africa, Asia, and Europe, post-1900 South America has been a peaceful continent with few wars, although high rates of violent crime remain a concern in some countries. South America occupies the southern portion of
1872-439: A lower probability to recovering Possible reserves include varying interpretations of geology, uncertainty due to reserve infill (associated with variability in seepage towards a production well from adjacent areas) and projected reserves based on future recovery methods. The probabilistic, cumulative sum of proven, probable and possible reserves is referred to in the industry as " 3P " (proven plus probable plus possible) where there
2016-551: A more realistic exchange rate, fairly low inflation, and the continued support of international organisations. Guyana held huge amounts of debt which have been written off through various international agencies. In 2003 Guyana qualified for US$ 329 million of debt relief, in addition to the US$ 256 million from the original World Bank plan for assisting heavily indebted poor countries in 1999. The Multilateral Debt Relief Initiative in 2006/7 wrote off about US$ 611 million of Guyana's debt by
2160-682: A part of Oceania, also administered by Chile), the Galápagos Islands (administered by Ecuador , sometimes considered part of Oceania), and Tierra del Fuego (split between Argentina and Chile). In the Atlantic Ocean, Brazil administers Fernando de Noronha , Trindade and Martim Vaz , and the Saint Peter and Saint Paul Archipelago , while the Falkland Islands (Spanish: Islas Malvinas ) and South Georgia and
2304-720: A republic on 23 February 1970, remaining a member of the Commonwealth . Shortly after independence, Venezuela began to take diplomatic, economic, and military action against Guyana to enforce its territorial claim to the Essequibo region . Five months after Guyana's independence, in October 1966, Venezuelan troops crossed the international border and seized Ankoko Island which has been under occupation ever since. Venezuelan troops quickly constructed military installations and an airstrip. Following independence, Forbes Burnham of
2448-413: A republic within the Commonwealth of Nations in 1970. The legacy of British colonialism is reflected in the country's political administration, lingua franca and diverse population, which includes Indian , African , Indigenous , Chinese , Portuguese , other European , and various multiracial groups. Guyana is the only mainland South American nation in which English is the official language. However,
2592-463: A risk or chance to exist in reality, depending on the level of appraisal or resource maturity that governs the amount of reliable geologic and engineering data available and the interpretation of those data. Estimating and monitoring of reserves provides an insight into, for example, a company's future production and a country's oil & gas supply potential. As such, reserves are an important means of expressing value and longevity of resources. In
2736-481: A site called Chavín de Huantar in modern Peru at an elevation of 3,177 meters (10,423 ft). Chavín civilization spanned 900 BC to 300 BC. In the central coast of Peru, around the beginning of the 1st millennium AD, Moche (100 BC – 700 AD, at the northern coast of Peru), Paracas and Nazca (400 BC – 800 AD, Peru) cultures flourished with centralized states with permanent militia improving agriculture through irrigation and new styles of ceramic art. At
2880-583: A static reservoir model . Static models and dynamic flow models can be populated with analog reservoir performance data to increase the confidence in forecasting as the amount and quality of static geoscientific and dynamic reservoir performance data increase. Once production has commenced, production rates and pressure data allow a degree of prediction on reservoir performance, which was previously characterized by substituting analog data. Analog data can still be substituted for expected reservoir performance where specific dynamic data may be missing, representing
3024-421: A subsurface reservoir , is called oil or gas initially in place ( STOIIP or GIIP respectively). However, only a fraction of in place oil & gas can be brought to the surface ( recoverable ), and it is only this producible fraction that is considered to be either reserves or a resource of any kind. The ratio between in place and recoverable volumes is known as the recovery factor ( RF ), which
SECTION 20
#17327653124183168-689: A subtropical climate of the dinaric type. At the highest points of the Andean region, climates are colder than the ones occurring at the highest point of the Norwegian fjords. In the Andean plateaus, the warm climate prevails, although it is tempered by the altitude, while in the coastal strip, there is an equatorial climate of the Guinean type. From this point until the north of the Chilean coast appear, successively, Mediterranean oceanic climate , temperate of
3312-524: Is a 10% chance of delivering or exceeding the P10 volume.( ibid ) Resource estimates are undiscovered volumes, or volumes that have not yet been drilled and flowed to surface. A non-reserve resource , by definition, does not have to be technically or commercially recoverable and can be represented by a single, or an aggregate of multiple potential accumulations, e.g. an estimated geological basin resource. There are two non-reserve resource categories: Once
3456-1012: Is a continent entirely in the Western Hemisphere and mostly in the Southern Hemisphere , with a considerably smaller portion in the Northern Hemisphere . It can also be described as the southern subregion of the Americas . South America is bordered on the west by the Pacific Ocean and on the north and east by the Atlantic Ocean ; North America and the Caribbean Sea lie to the northwest. The continent includes twelve sovereign states : Argentina , Bolivia , Brazil , Chile , Colombia , Ecuador , Guyana , Paraguay , Peru , Suriname , Uruguay , and Venezuela ; two dependent territories :
3600-441: Is assumed that the production will decline on a reasonably smooth curve, and so allowances must be made for wells shut in and production restrictions. The curve can be expressed mathematically or plotted on a graph to estimate future production. It has the advantage of (implicitly) conflating all reservoir characteristics. It requires a sufficient production history to establish a statistically significant trend, ideally when production
3744-526: Is because the most extensive part of the continent is in the equatorial zone (the region has more areas of equatorial plains than any other region), therefore giving the Southern Cone more oceanic influence, which moderates year round temperatures. The average annual temperatures in the Amazon basin oscillate around 27 °C (81 °F), with low thermal amplitudes and high rainfall indices. Between
3888-460: Is by far the most populous South American country, with almost half of the continent's population, followed by Colombia, Argentina, Venezuela, and Peru. In recent decades, Brazil has also generated half of the continent's GDP and has become the continent's first regional power. Most of the population lives near the continent's western or eastern coasts while the interior and the far south are sparsely populated. The geography of western South America
4032-963: Is determined by a combination of subsurface geology and the technology applied to extraction . When reporting oil & gas volumes , in order to avoid confusion, it should be clarified whether they are in place or recoverable volumes. The appropriate technique for resource estimations is determined by resource maturity. There are three main categories of technique, which are used through resource maturation to differing degrees: analog (substitution), volumetric (static) and performance-based (dynamic), which are combined to help fill gaps in knowledge or data. Both probabilistic and deterministic calculation methods are commonly used to calculate resource volumes, with deterministic methods predominantly applied to reserves estimation (low uncertainty) and probabilistic methods applied to general resource estimation (high uncertainty). The combination of geological, geophysical and technical engineering constraints means that
4176-605: Is dominated by the Andes mountains; in contrast, the eastern part contains both highland regions and vast lowlands where rivers such as the Amazon , Orinoco and Paraná flow. Most of the continent lies in the tropics, except for a large part of the Southern Cone located in the middle latitudes . The continent's cultural and ethnic outlook has its origin with the interaction of Indigenous peoples with European conquerors and immigrants and, more locally, with African slaves . Given
4320-480: Is home to six ecoregions: Guayanan Highlands moist forests , Guianan moist forests , Orinoco Delta swamp forests , Tepuis , Guianan savanna , and Guianan mangroves . The Guiana Shield region is little known and extremely rich biologically. Unlike other areas of South America, over 70% of the natural habitat remains pristine. Guyana ranks third in the world with a 2019 Forest Landscape Integrity Index mean score of 9.58/10. The rich natural history of British Guiana
4464-417: Is important because the recovery changes as the physical environment of the reservoir adjusts with every molecule extracted; the longer a reservoir has been flowing, the more accurate the prediction of remaining reserves. Dynamic simulations are commonly used by analysts to update reserves volumes, particularly in large complex reservoirs. Daily production can be matched against production forecasts to establish
Guyana - Misplaced Pages Continue
4608-618: Is known about a segment. The opportunity segment can be scaled to any level depending on the specific interest of the analyst, whether at a global, country, basin, structural domain, play, license or reservoir level. YTF is conceptual and is commonly used as a method for scoping potential in frontier areas where there is no oil or gas production or where new play concepts are being introduced with perceived potential. However, analog content can also be substituted for any subsurface parameters where there are gaps in data in more mature reserves or resource settings (below). Oil & gas volumes in
4752-759: Is not curtailed by regulatory or other artificial conditions. Experience shows that initial estimates of the size of newly discovered oil & gas fields are usually too low. As years pass, successive estimates of the ultimate recovery of fields tend to increase. The term reserve growth refers to the typical increases (but narrowing range) of estimated ultimate recovery that occur as oil & gas fields are developed and produced. Many oil-producing nations do not reveal their reservoir engineering field data and instead provide unaudited claims for their oil reserves. The numbers disclosed by some national governments are suspected of being manipulated for political reasons. In order to achieve international goals for decarbonisation ,
4896-614: Is now Colombia. They established the Muisca Confederation of many clans, or cacicazgos , that had a free trade network among themselves. Many were goldsmiths and farmers. Other important Pre-Columbian cultures include: the Cañaris (in south central Ecuador), Chimú Empire (1300–1470, Peruvian northern coast), Chachapoyas , and the Aymaran kingdoms (1000–1450, Western Bolivia and southern Peru). Holding their capital at
5040-480: Is one of the most biodiverse continents on Earth. It is home to many unique species of animals including the llama , anaconda , piranha , jaguar , vicuña , and tapir , and to one of the largest known insects in the world, the Titan beetle . The Amazon rainforests possess high biodiversity , with Brazil estimated to contain 10% of Earth's species . 83% of South America's large mammals ( megafauna ) became extinct at
5184-468: Is one of the world's most sparsely populated countries. The country can be divided into five natural regions: a narrow and fertile marshy plain along the Atlantic coast (low coastal plain) where most of the population lives; a white sand belt further inland (hilly sand and clay region), containing most of Guyana's mineral deposits; the dense rain forests (Forested Highland Region) in the southern part of
5328-430: Is required ( e.g. opening a set of perforations already installed). PUD reserves require additional capital investment (e.g., drilling new wells) to bring the oil and/or gas to the surface. Accounting for production is an important exercise for businesses. Produced oil or gas that has been brought to surface (production) and sold on international markets or refined in-country are no longer reserves and are removed from
5472-414: Is sub-classified based on project maturity and/or economic status ( 1C , 2C , 3C , ibid ) and in addition are assigned a risk, or chance, to exist in reality (POS or COS). Prospective resources , being undiscovered, have the widest range in volume uncertainties and carry the highest risk or chance to be present in reality (POS or COS). At the exploration stage (before discovery) they are categorized by
5616-582: Is the largest country in South America, covering a little less than half of the continent's land area and encompassing around half of the continent's population. The remaining countries and territories are divided among four subregions : the Andean states , Caribbean South America , The Guianas , and the Southern Cone . Physiographically, South America also includes some of the nearby islands. The Dutch ABC islands ( Aruba , Bonaire , and Curaçao ),
5760-565: The Akawaio , Arawak ( Lokono ), Arekuna ( Pemon ), Carib ( Karinya ), Makushi , Patamona , Wai Wai , Wapichan , and Warao . They are the third-largest demographic group in the country and are the majority population in the southern interior. The Afro-Guyanese population mainly descend from West African ethnicities such as the Ashanti from Ghana , the Yoruba from Southwest Nigeria ,
5904-519: The Altiplano , Tiahuanaco or Tiwanaku (100 BC – 1200 AD, Bolivia) managed a large commercial network based on religion. Around the 7th century, both Tiahuanaco and Wari or Huari Empire (600–1200, Central and northern Peru) expanded its influence to all the Andean region, imposing the Huari urbanism and Tiahuanaco religious iconography. The Muisca were the main indigenous civilization in what
Guyana - Misplaced Pages Continue
6048-586: The Archipelago of San Andrés, Providencia and Santa Catalina ( San Andrés Island , Providencia Island , and Santa Catalina Island etc., which are administered by Colombia ) are politically parts of South American countries but physiographically parts of North America. Other islands often associated with geopolitical South America are the Chiloé Archipelago and Robinson Crusoe Island (both administered by Chile), Easter Island (culturally
6192-820: The Atacama Desert ; the wettest place on earth, López de Micay in Colombia; the largest rainforest, the Amazon rainforest ; the highest capital city, La Paz , Bolivia ; the highest commercially navigable lake in the world, Lake Titicaca ; and, excluding research stations in Antarctica , the world's southernmost permanently inhabited community, Puerto Toro , Chile. South America's major mineral resources are gold, silver, copper, iron ore, tin , and petroleum. These resources have brought high income to its countries, especially in times of war or of rapid economic growth by industrialized countries elsewhere. However,
6336-717: The Bering Land Bridge (now the Bering Strait ) at least 15,000 years ago from the territory that is present-day Russia. They migrated south through North America, and eventually reached South America through the Isthmus of Panama . Amongst the oldest evidence for human presence in South America is the Monte Verde II site in Chile, suggested to date to around 14,500 years ago. From around 13,000 years ago,
6480-684: The British assumed control in 1796, with the Dutch and British signing the London Convention in 1814 that ceded Demerara-Essequibo and Berbice to Britain. In 1831, the united colonies of Demerara-Essequibo and separate colony of Berbice together became a single British colony known as British Guiana . Since its independence in 1824, Venezuela has claimed the area of land to the west of the Essequibo River . Simón Bolívar wrote to
6624-634: The Caribbean colonies and Brazil, as European nations built up economically slave-dependent colonies in the New World . Nearly 40% of all African slaves trafficked to the Americas went to Brazil. An estimated 4.9 million slaves from Africa came to Brazil during the period from 1501 to 1866. In contrast to other European colonies in the Americas which mainly used the labor of African slaves, Spanish colonists mainly enslaved indigenous Americans. In 1750,
6768-1030: The Falkland Islands and South Georgia and the South Sandwich Islands ; and one internal territory : French Guiana . The ABC islands of the Dutch Caribbean (north of Venezuela in the Leeward Antilles ), Ascension Island (a part of Saint Helena, Ascension and Tristan da Cunha ), Bouvet Island (a dependency of Norway ), Panama , and the Caribbean island country of Trinidad and Tobago may also be considered parts of South America. South America has an area of 17,840,000 square kilometers (6,890,000 sq mi). Its population as of 2021 has been estimated at more than 434 million. South America ranks fourth in area (after Asia, Africa, and North America) and fifth in population (after Asia, Africa, Europe, and North America). Brazil
6912-470: The Fishtail projectile point style became widespread across South America, with its disappearance around 11,000 years ago coincident with the disappearance of South America's megafauna. Maize was present in northern South America by around 6,000 years ago. By 2000 BC, many agrarian communities had been settled throughout the Andes and the surrounding regions. Fishing became a widespread practice along
7056-472: The Fortaleza area, contemporaneous with the pyramids of Ancient Egypt , one of the oldest-known civilizations in the Americas and one of the six sites where civilization separately originated in the ancient world. Caral–Supe governing class established a trade network and developed agriculture then followed by Chavín by 900 BC, according to some estimates and archaeological finds. Artifacts were found at
7200-726: The Guayana Region in Venezuela ( Spanish Guyana ), and Amapá in Brazil ( Portuguese Guiana ). According to the Oxford English Dictionary , the name "Guyana" comes from an indigenous Amerindian language and means "land of many waters". The word Co‑operative in the official name refers to co-operative socialism . What is now Guyana has been inhabited for millennia. Nine indigenous tribes reside in Guyana:
7344-619: The Igbo from South-Eastern Nigeria , and the Mandingo from Senegal . Most Indo-Guyanese are descended from indentured labourers who migrated from North India , especially the Bhojpur and Awadh regions of the Hindi Belt in the present-day states of Uttar Pradesh , Bihar , and Jharkhand . A significant minority of Indo-Guyanese are also descended from indentured migrants who came from
SECTION 50
#17327653124187488-1238: The International Energy Agency said in 2021 that countries should no longer expand exploration or invest in projects to expand reserves to meet climate goals set by the Paris Agreement . The categories and estimation techniques framed by the PRMS above apply to conventional reservoirs, where oil & gas accumulations are controlled by hydrodynamic interactions between the buoyancy of oil & gas in water versus capillary forces. Oil or gas in unconventional reservoirs are much more tightly bound to rock matrices in excess of capillary forces and therefore require different approaches to both extraction and resource estimation. Unconventional reservoirs or accumulations also require different means of identification and include coalbed methane (CBM), basin-centered gas (low permeability), low permeability tight gas (including shale gas ) and tight oil (including shale oil ), gas hydrates, natural bitumen (very high viscosity oil), and oil shale (kerogen) deposits. Ultra low permeability reservoirs exhibit
7632-673: The International Monetary Fund , the World Bank and the Inter-American Development Bank . In 2006, Japan finalised its bilateral debt cancellation agreement, in 2007, US$ 15 million was written off by China and in 2008, Venezuela cancelled US$ 12.5 million. In 2008, the economy witnessed a 3% increase in growth amid the global economic crisis ; it grew 5.4% in 2011 and 3.7% in 2012. IMF projected economic growth to be 53% in 2020 following
7776-462: The Macushi people). When the country gained independence from British rule, a policy of nationalisation was enacted by Forbes Burnham to address the inequities that were established by plantation-based colonial rule. All large-scale industries such as foreign-owned bauxite mining ( Reynolds Metals and Rio Tinto's Alcan) and sugar ( GuySuCo ) operations were taken over by the government. However,
7920-715: The Maracaibo Lake and the mouth of the Orinoco, predominates an equatorial climate of the type Congolese, that also includes parts of the Brazilian territory. The east-central Brazilian plateau has a humid and warm tropical climate. The northern and eastern parts of the Argentine pampas have a humid subtropical climate with dry winters and humid summers of the Chinese type, while the western and eastern ranges have
8064-599: The Orinoco Llanos and in the Guianas Plateau , the precipitation levels go from moderate to high. The Pacific coast of Colombia and northern Ecuador are rainy regions, with Chocó in Colombia being the rainiest place in the world along with the northern slopes of Indian Himalayas. The Atacama Desert, along this stretch of coast, is one of the driest regions in the world. The central and southern parts of Chile are subject to extratropical cyclones , and most of
8208-487: The PRMS , the terms 'Resources' and 'Reserves' have distinct and specific meaning with respect to oil & gas accumulations and hydrocarbon exploration in general. However, the level of rigor required in applying these terms varies depending on the resource maturity which informs reporting requirements. Oil & gas reserves are resources that are, or are reasonably certain to be, commercial (i.e. profitable). Reserves are
8352-595: The People's National Congress Reform rose to power, quickly becoming a repressive authoritarian leader. Politics became divided on race with the Afro-Guyanese supporting Burnham's People's National Congress and the Indo-Guyanese supporting Jagan 's People's Progressive Party , in what became known as aapan jaat politics, loosely translated from Guyanese Hindustani as "vote for your own kind". Guyana
8496-547: The Portuguese Crown abolished the enslavement of indigenous peoples in colonial Brazil , under the belief that they were unfit for labor and less effective than enslaved Africans. Enslaved Africans were brought to the Americas on slave ships , under inhuman conditions and ill-treatment, and those who survived were sold in slave markets . After independence, all South American countries maintained slavery for some time. The first South American country to abolish slavery
8640-738: The Portuguese Kingdom of Brazil , Dom Pedro I (also Pedro IV of Portugal), son of the Portuguese King Dom João VI , proclaimed the independent Kingdom of Brazil in 1822, which later became the Empire of Brazil . Despite the Portuguese loyalties of garrisons in Bahia , Cisplatina and Pará , independence was diplomatically accepted by Portugal in 1825, on condition of a high compensation paid by Brazil mediated by
8784-467: The Riograndense Republic ). Oil and gas reserves and resource quantification Oil and gas reserves denote discovered quantities of crude oil and natural gas (oil or gas fields ) that can be profitably produced/recovered from an approved development. Oil and gas reserves tied to approved operational plans filed on the day of reserves reporting are also sensitive to fluctuating global market pricing. The remaining resource estimates (after
SECTION 60
#17327653124188928-440: The Rupununi River lies the Rupununi savannah , south of which lie the Kanuku Mountains . The four longest rivers are the Essequibo at 1,010 km (628 mi) long, the Courentyne River at 724 km (450 mi), the Berbice at 595 km (370 mi), and the Demerara at 346 km (215 mi). The Courentyne river forms the border with Suriname. At the mouth of the Essequibo are several large islands, including
9072-529: The Society of Petroleum Engineers (SPE), the World Petroleum Council (WPC), the American Association of Petroleum Geologists (AAPG), the Society of Petroleum Evaluation Engineers (SPEE) and the Society of Economic Geologists (SEG). Public companies that register securities in the U.S. market must report proved reserves under the Securities and Exchange Commission (SEC) reporting requirements which shares many elements with PRMS. Attempts have also been made to standardize more generalized methodologies for
9216-424: The South American Plate . South America is home to several superlatives, including the world's highest uninterrupted waterfall , Angel Falls in Venezuela; the highest single-drop waterfall Kaieteur Falls in Guyana; the largest river by volume, the Amazon River ; the longest mountain range, the Andes (whose highest mountain is Aconcagua at 6,962 m or 22,841 ft); the driest non-polar place on earth,
9360-411: The Spanish American wars of independence between the patriots, who promoted such autonomy, and the royalists , who supported Spanish authority over the Americas. The Juntas, in both Spain and the Americas, promoted the ideas of the Enlightenment . Five years after the beginning of the war, Ferdinand VII returned to the throne and began the Absolutist Restoration , as the royalists got the upper hand in
9504-441: The Union of South American Nations as a founding member. In 2017, 41% of the population of Guyana lived below the poverty line . Guyana's economy has been undergoing a transformation since the discovery of crude oil in 2015 and commercial drilling in 2019, with its economy growing by 49% in 2020, making it, by some accounts, currently the world's fastest-growing economy. As it is said to have 11 billion barrels in oil reserves,
9648-403: The Wai Wai , Macushi , Patamona , Lokono , Kalina , Wapishana , Pemon , Akawaio and Warao . Historically dominated by the Lokono and Kalina tribes, Guyana was colonised by the Dutch before coming under British control in the late 18th century. It was governed as British Guiana with a mostly plantation-style economy until the 1950s. It gained independence in 1966 and officially became
9792-432: The Wai Wai , Macushi , Patamona , Lokono , Kalina , Wapishana , Pemon , Akawaio , and Warao . Many of these peoples practised shifting agriculture alongside hunting . Historians speculate that the Arawaks and Caribs originated in the South American hinterland and migrated northward, first to the present-day Guianas and then to the Caribbean islands. The Arawak, mainly cultivators, hunters, and fishermen, migrated to
9936-406: The giant otter and harpy eagle . Guyana has one of the highest levels of biodiversity in the world. It is home to more than 225 species of mammals , 900 species of birds , 880 species of reptiles, and more than 6,500 different species of plants. Among these wildlife categories the most notably famous are the Arapaima , which is the world's largest scaled freshwater fish; the giant anteater ,
10080-712: The native populations had no immune resistance – caused large-scale depopulation of the native population under Spanish control. Systems of forced labor, such as the haciendas and mining industry's mit'a also contributed to the depopulation. After this, enslaved Africans , who had developed immunities to these diseases, were quickly brought in to replace them. The Spaniards were committed to converting their native subjects to Christianity and were quick to purge any native cultural practices that hindered this end; however, many initial attempts at this were only partially successful, as native groups simply blended Catholicism with their established beliefs and practices. Furthermore,
10224-418: The 145 km (90 mi) wide Shell Beach along the northwest coast, which is also a major breeding area for sea turtles (mainly leatherbacks ) and other wildlife. The climate is tropical and generally hot and humid, though moderated by northeast trade winds along the coast. There are two rainy seasons, the first from May to mid-August, the second from mid-November to mid-January. Guyana has one of
10368-755: The Americas. The continent is generally delimited on the northwest by the Darién watershed along the Colombia–Panama border , although some may consider the border instead to be the Panama Canal . Geopolitically and geographically, all of Panama – including the segment east of the Panama Canal in the isthmus – is typically included in North America alone and among the countries of Central America . Almost all of mainland South America sits on
10512-692: The Argentine Patagonia is desert . In the Pampas of Argentina, Uruguay and South of Brazil the rainfall is moderate, with rains well distributed during the year. The moderately dry conditions of the Chaco oppose the intense rainfall of the eastern region of Paraguay. In the semiarid coast of the Brazilian Northeast the rains are linked to a monsoon regime. Important factors in the determination of climates are sea currents, such as
10656-544: The Brazil-Guyana-Venezuela tripoint border, part of the Pakaraima range. Mount Roraima and Guyana's table-top mountains ( tepuis ) are said to have been the inspiration for Sir Arthur Conan Doyle 's 1912 novel The Lost World . There are also many volcanic escarpments and waterfalls, including Kaieteur Falls which is believed to be the largest single-drop waterfall in the world by volume. North of
10800-692: The Breton type and, already in Tierra del Fuego , cold climate of the Siberian type. The distribution of rainfall is related to the regime of winds and air masses. In most of the tropical region east of the Andes, winds blowing from the northeast, east and southeast carry moisture from the Atlantic, causing abundant rainfall. However, due to a consistently strong wind shear and a weak Intertropical Convergence Zone , South Atlantic tropical cyclones are rare. In
10944-769: The British government warning against the Berbice and Demerara settlers settling on land which the Venezuelans, as assumed heirs of Spanish claims on the area dating to the 16th century, claimed was theirs. In 1899, an international tribunal ruled that the land belonged to Great Britain. From the Anglo-Dutch Treaty of 1814 , the British inherited Dutch territory which included lands between the Orinoco and Courantyne rivers. Dutch sovereignty over these settlements
11088-589: The Caribbean islands before the Carib and settled throughout the region. Although Christopher Columbus was the first European to sight Guyana during his third voyage (in 1498), and Sir Walter Raleigh wrote an account in 1596, the Dutch were the first Europeans to establish colonies: Pomeroon (1581), Essequibo (1616), Berbice (1627), and Demerara (1752). After France invaded the Dutch Republic ( 1795 ),
11232-431: The Essequibo watershed support a remarkable diversity of fish and aquatic invertebrates, and are home to giant otters , capybaras , and several species of caimans . On land, large mammals, such as jaguars , tapirs , bush dogs , giant anteaters , and saki monkeys are still common. Over 800 species of birds have been reported from the region, and the reptile and amphibian faunas are similarly rich. In February 2004,
11376-777: The Government of Guyana issued a title to more than 4,000 km (1 × 10 ^ acres) of land in the Konashen Indigenous District as the Kanashen Community-Owned Conservation Area, managed by the Wai Wai , and the world's largest community-owned conservation Area. The Iwokrama International Centre for Rain Forest Conservation and Development was also created for the protection and sustainable use of
11520-460: The Iwokrama forest area. Since 2009, Guyana and Norway have collaborated to promote green development in Guyana while keeping deforestation at low levels. The main economic activities in Guyana are agriculture (rice and Demerara sugar ), bauxite and gold mining, timber, seafood, minerals, crude oil and natural gas. The discovery of major crude oil reserves off the Atlantic coast has since made
11664-547: The SPE and the WPC in 1997, requiring that reserves are discovered, recoverable, commercial and remaining based on rules governing the classification into sub-categories and the declared development project plans applied. Probable and Possible reserves may be used internally by oil companies and government agencies for future planning purposes but are not routinely or uniformly compiled. Proven reserves are discovered volumes claimed to have
11808-681: The South Indian states of Tamil Nadu and Andhra Pradesh ; these are the plurality ancestry in the East Berbice-Corentyne region. The two largest groups, the Indo-Guyanese and Afro-Guyanese, have experienced some racial tension. English is the official language of Guyana and is used for education, government, media, and services. The vast majority of the population speaks Guyanese Creole , an English-based creole with slight African, Indian, and Amerindian influences, as their first language. South America South America
11952-570: The South Sandwich Islands ( biogeographically and hydrologically associated with Antarctica) have been administered as two British Overseas Territories under the Crown , whose sovereignty over the islands is disputed by Argentina . An isolated volcanic island on the South American Plate , Ascension Island is geologically a part of South America. Administered as a dependency of Saint Helena, Ascension and Tristan da Cunha ,
12096-1014: The Spaniards brought their language to the degree they did with their religion, although the Roman Catholic Church 's evangelization in Quechua , Aymara , and Guaraní actually contributed to the continuous use of these native languages albeit only in the oral form. Eventually, the natives and the Spaniards interbred, forming a mestizo class. At the beginning, many mestizos of the Andean region were offspring of Amerindian mothers and Spanish fathers. After independence, most mestizos had native fathers and European or mestizo mothers. Many native artworks were considered pagan idols and destroyed by Spanish explorers; this included many gold and silver sculptures and other artifacts found in South America, which were melted down before their transport to Spain or Portugal. Spaniards and Portuguese brought
12240-534: The Spanish and Portuguese colonies. First, Napoleon invaded Portugal, but the House of Braganza avoided capture by escaping to Brazil . Napoleon captured King Ferdinand VII of Spain, and appointed his own brother instead. This appointment provoked popular resistance, which created Juntas to rule in the name of the captured king. Many cities in the Spanish colonies, however, considered themselves equally authorized to appoint local Juntas like those of Spain. This began
12384-607: The United Kingdom. The newly independent nations began a process of fragmentation, with several civil and international wars. However, it was not as strong as in Central America. Some countries created from provinces of larger countries stayed as such up to modern times (such as Paraguay or Uruguay), while others were reconquered and reincorporated into their former countries (such as the Republic of Entre Ríos and
12528-557: The accuracy of simulation models based on actual volumes of recovered oil or gas. Unlike analogs or volumetric methods above, the degree of confidence in the estimates (or the range of outcomes) increases as the amount and quality of geological, engineering and production performance data increase. These must then be compared with previous estimates, whether derived from analog, volumetric or static reservoir modelling before reserves can be adjusted and booked. The materials balance method for an oil or gas field uses an equation that relates
12672-405: The accuracy of these estimation techniques, significant uncertainties still remain, which are expressed as a range of potential recoverable oil & gas quantities using probabilistic methods. In general, most early estimates of the reserves of an oil or gas field (rather than resource estimates) are conservative and tend to grow with time . This may be due to the availability of more data and/or
12816-811: The booking and company balance sheets. Until January 2010, "1P" proven reserves were the only type the U.S. SEC allowed oil companies to report to investors. Companies listed on U.S. stock exchanges may be called upon to verify their claims confidentially, but many governments and national oil companies do not disclose verifying data publicly. Since January 2010 the SEC now allows companies to also provide additional optional information declaring 2P (both proven and probable) and 3P (proven plus probable plus possible) with discretionary verification by qualified third party consultants, though many companies choose to use 2P and 3P estimates only for internal purposes. Probable additional reserves are attributed to known accumulations and
12960-437: The coast, helping establish fish as a primary source of food. Irrigation systems were also developed at this time, which aided in the rise of an agrarian society . South American cultures began domesticating llamas , vicuñas , guanacos , and alpacas in the highlands of the Andes circa 3500 BC. Besides their use as sources of meat and wool, these animals were used for transportation of goods. The rise of plant growing and
13104-500: The colonies of the territory were merged and the land was given over to the British Empire in 1814. Upon emancipation in 1838, almost all of the former slaves abandoned the plantations, and Indians were brought to the country under indenture contracts from 1838 until the end of the system in 1917. The production of balatá (natural latex ) was once a big business in Guyana. Most of the balatá bleeding in Guyana took place in
13248-614: The completion of the first off-shore oil project. Actual growth in GDP in 2020 was 43%; reports in April 2021 anticipate 20% growth for 2021. The government initiated a major overhaul of the tax code in early 2007. A Value Added Tax (VAT) replaced six different taxes. Prior to the implementation of the VAT, it had been relatively easy to evade sales tax, and many businesses were in violation of tax code. Many businesses opposed VAT introduction because of
13392-461: The concentration in producing one, or few, major export commodities has often hindered the development and diversification of its economies. The fluctuation in the price of commodities in international markets has led historically to major highs and lows, booms and busts, in the economies of South American states, often causing political instability. This has led for calls to diversify production and increase trade within South America itself. Brazil
13536-548: The conflict. The independence of South America was secured by Simón Bolívar (Venezuela) and José de San Martín (Argentina), the two most important Libertadores . Bolívar led a great uprising in the north, then led his army south towards Lima , the capital of the Viceroyalty of Peru . Meanwhile, San Martín led an army across the Andes Mountains, along with Chilean expatriates, and liberated Chile. He organized
13680-507: The countries with the most improvement in Human Development Index ranking since 2015. According to the World Bank in 2023, very significant poverty still exists and the country faces significant risks in structurally managing its growth. The name "Guyana" derives from Guiana , an earlier name for a larger region that included the areas now called Guyana ( British Guyana ), Suriname ( Dutch Guiana ), French Guiana ,
13824-471: The country is set to become one of the largest per capita oil producers in the world by 2025. The discovery of over 11 billion barrels of oil reserves off the coast of Guyana since 2017 is the largest addition to global oil reserves since the 1970s. Guyana is now ranked as having the fourth-highest GDP per capita in the Americas after the United States , Canada , and The Bahamas , and has been one of
13968-470: The country; the drier savannah areas in the south-west; and the smallest interior lowlands (interior savannah) consisting mostly of mountains that gradually rise to the Brazilian border. Some of Guyana's highest mountains are Mount Ayanganna (2,042 m or 6,699 ft), Monte Caburaí (1,465 m or 4,806 ft) and Mount Roraima (2,772 m or 9,094 ft – the highest mountain in Guyana) on
14112-640: The current Humboldt and Falklands . The equatorial current of the South Atlantic strikes the coast of the Northeast and there is divided into two others: the current of Brazil and a coastal current that flows to the northwest towards the Antilles , where there it moves towards northeast course thus forming the most Important and famous ocean current in the world, the Gulf Stream . South America
14256-527: The descendants of indentured labourers from India who make up 43.5% of the population, according to the 2002 census. They are followed by the Afro-Guyanese , the descendants of enslaved people brought from Africa, primarily West Africa , who constitute 30.2%. The Guyanese of mixed heritage make up 16.7%. The Indigenous peoples, known locally as Amerindians , make up 10.5% of the population. The nine Indigenous nations in Guyana, defined by language, are
14400-410: The east. With a land area of 214,969 km (83,000 sq mi), Guyana is the third-smallest sovereign state by area in mainland South America after Uruguay and Suriname, and is the second-least populous sovereign state in South America after Suriname; it is also one of the least densely populated countries on Earth . The official language of the country is English , although a large part of
14544-444: The economy under nationalisation was plagued by problems; political instability leading to an exodus of skilled labour, inexperienced management, aging infrastructure. Poor international market conditions also expanded the country's debt. The Guyanese economy rebounded slightly and exhibited moderate economic growth after 1999, due to expansion in the agricultural and mining sectors, a more favourable atmosphere for business initiatives,
14688-545: The end of the Pleistocene around 11,000 years ago as part of the Quaternary extinction event , among the highest of any continent, with the casualties including saber-toothed cats , ground sloths , glyptodonts , gomphotheres , the equines Hippidion and Equus neogeus , and all remaining South American native ungulates . South America is thought to have been first inhabited by humans when people were crossing
14832-401: The extra paperwork required; however, the Government has remained firm on the VAT. Replacing several taxes with one flat tax rate, it will also be easier for government auditors to spot embezzlement . The large majority (about 90%) of Guyana's 744,000 people live along a narrow coastal strip that ranges from a width of 16 to 64 km (10 to 40 mi) inland and makes up approximately 10% of
14976-430: The field. It requires some production to occur (typically 5% to 10% of ultimate recovery), unless reliable pressure history can be used from a field with similar rock and fluid characteristics. The decline curve method is an extrapolation of known production data to fit a decline curve and estimate future oil & gas production. The three most common forms of decline curves are exponential, hyperbolic, and harmonic. It
15120-458: The financial status of the company, which may be obliged to report those estimates to shareholders and "resource holders" at the various stages of resource maturation. Currently, the most widely accepted classification and reporting methodology is the 2018 petroleum resources management system ( PRMS ), which summarizes a consistent approach to estimating oil and gas quantities within a comprehensive classification framework, jointly developed by
15264-659: The first Guyanese election since 1964 to be internationally recognised as free and fair. Cheddi Jagan of the PPP was elected and sworn in as president on 9 October 1992. This reversed the monopoly that Afro-Guyanese traditionally had over Guyanese politics. The poll was marred by violence however. In May 2008, President Bharrat Jagdeo was a signatory to the UNASUR Constitutive Treaty of the Union of South American Nations. The Guyanese government officially ratified
15408-630: The foothills of the Kanuku Mountains in the Rupununi savannah . Early exploitation also took place in the North West District, but most of the trees in the area were destroyed by illicit bleeding methods that involved cutting down the trees rather than making incisions in them. Uses of balatá included the making of cricket balls , temporary dental fillings, and the crafting of figurines and other decorative items (particularly by
15552-611: The great city of Cusco , the Inca civilization dominated the Andes region from 1438 to 1533. Known as Tawantin suyu , and "the land of the four regions", in Quechua , the Inca Empire was highly distinct and developed. Inca rule extended to nearly a hundred linguistic or ethnic communities, some nine to fourteen million people connected by a 25,000 kilometer road system . Cities were built with precise, unmatched stonework, constructed over many levels of mountain terrain. Terrace farming
15696-476: The improved matching between predicted and actual production performance. Appropriate external reporting of resources and reserves is required from publicly traded companies, and is an accounting process governed by strict definitions and categorisation administered by authorities regulating the stock market and complying with governmental legal requirements. Other national or industry bodies may voluntarily report resources and reserves but are not required to follow
15840-417: The island is geopolitically a part of Africa. All of the world's major climate zones are present in South America. The distribution of the average temperatures in the region presents a constant regularity from the 30° of latitude south , when the isotherms tend, more and more, to be confused with the degrees of latitude. In temperate latitudes, winters and summers are milder than in North America. This
15984-673: The islands of Trinidad and Tobago ( Trinidad Island and Tobago Island etc.), the State of Nueva Esparta , and the Federal Dependencies of Venezuela sit on the northern portion of the South American continental shelf and are sometimes considered parts of the continent. Geopolitically, all the island countries and territories in the Caribbean have generally been grouped as a subregion of North America instead. By contrast, Aves Island (administered by Venezuela ) and
16128-534: The land outside Europe should be an exclusive duopoly between the two countries. The treaty established an imaginary line along a north–south meridian 370 leagues west of the Cape Verde Islands , roughly 46° 37' W. In terms of the treaty, all land to the west of the line (known to comprise most of the South American soil) would belong to Spain, and all land to the east, to Portugal. As accurate measurements of longitude were impossible at that time,
16272-563: The largest anteater; the giant otter , the world's largest and rarest river otter; and the Guianan cock-of-the-rock bird ( Rupicola rupicola ). The following habitats have been categorised for Guyana: coastal, marine, littoral, estuarine, palustrine, mangrove, riverine, lacustrine, swamp, savanna, white sand forest, brown sand forest, montane, cloud forest, moist lowland and dry evergreen scrub forests (NBAP, 1999). About 14 areas of biological interest have been identified as possible hotspots for
16416-584: The largest unspoiled rainforests in South America, some parts of which are almost inaccessible by humans. The rich natural history of Guyana was described by early explorers Sir Walter Raleigh and Charles Waterton and later by naturalists Sir David Attenborough and Gerald Durrell . In 2008, the BBC broadcast a three-part programme called Lost Land of the Jaguar which highlighted the huge diversity of wildlife, including undiscovered species and rare species such as
16560-476: The line was not strictly enforced, resulting in a Portuguese expansion of Brazil across the meridian. Beginning in the 1530s, the people and natural resources of South America were repeatedly exploited by foreign conquistadors , first from Spain and later from Portugal. These competing colonial nations claimed the land and resources as their own and divided it into colonies. European infectious diseases ( smallpox , influenza , measles , and typhus ) – to which
16704-574: The local peoples in order to maintain successful settlements. After the initial rush to find gold in the New World waned, the Dutch found the climate to be suitable for growing sugar cane, converting large tracts of the Guyanese coast into plantations and supplying with labour from the Atlantic slave trade . The country and economy were run by a small European planter elite which continued on when
16848-518: The main asset of an oil & gas company ; booking is the process by which they are added to the balance sheet . Contingent and prospective resource estimates are much more speculative and are not booked with the same degree of rigor, generally for internal company use only, reflecting a more limited data set and assessment maturity. If published externally, these volumes add to the perception of asset value , which in turn can influence oil & gas company share or stock value . The PRMS provides
16992-553: The majority of the population speak Guyanese Creole , an English-based creole language , as a first language. Guyana is part of the Commonwealth Caribbean . It is part of the mainland Caribbean region maintaining strong cultural, historical, and political ties with other Caribbean countries as well as serving as the headquarters for the Caribbean Community (CARICOM). In 2008, the country joined
17136-602: The means to make quantitative and relative comparisons between assets, before underwriting the significant cost of exploring for, developing and extracting those accumulations. Classification schemes are used to categorize the uncertainty in volume estimates of the recoverable oil and gas and the chance that they exist in reality (or risk that they do not) depending on the resource maturity. Potential subsurface oil and gas accumulations identified during exploration are classified and reported as prospective resources . Resources are re-classified as reserves following appraisal , at
17280-458: The mid-17th century. It became a Dutch colony in 1667. The indigenous peoples of the Americas in various European colonies were forced to work in European plantations and mines; along with enslaved Africans who were also introduced in the proceeding centuries via the slave trade . European colonists were heavily dependent on indigenous labor during the initial phases of settlement to maintain
17424-473: The nation's total land area. Guyana's population is racially and ethnically heterogeneous, with ethnic groups originating from India, Africa, Europe, and China, as well as Indigenous peoples . Despite their diverse ethnic backgrounds, most groups share a common language of English and its Guyanese English Creole vernacular. The largest ethnic group is the Indo-Guyanese (also known as East Indians ),
17568-473: The point when a sufficient accumulation of commercial oil and/or gas are proven by drilling, with authorized and funded development plans to begin production within a recommended five years. Reserve estimates are required by authorities and companies, and are primarily made to support operational or investment decision-making by companies or organisations involved in the business of developing and producing oil and gas. Reserve volumes are necessary to determine
17712-696: The population is bilingual in English and the indigenous languages. It has a wide variety of natural habitats and very high biodiversity . The country also hosts a part of the Amazon rainforest , the largest tropical rainforest in the world. The region known as " the Guianas " consists of the large shield landmass north of the Amazon River and east of the Orinoco River known as the "land of many waters". Nine indigenous tribes reside in Guyana:
17856-478: The probabilistic, cumulative sum of proven and probable reserves (with a probability of P50), also referred to in the industry as " 2P " (Proven plus Probable) The P50 designation means that there should be at least a 50% chance that the actual volumes recovered will be equal to or will exceed the 2P estimate. Possible additional reserves are attributed to known accumulations that have a lower chance of being recovered than probable reserves. Reasons for assigning
18000-399: The quantification of volumes is usually undertaken by integrated technical, and commercial teams composed primarily of geoscientists and subsurface engineers , surface engineers and economists. Because the geology of the subsurface cannot be examined directly, indirect techniques must be used to estimate the size and recoverability of the resource. While new technologies have increased
18144-466: The reporting of national or basin level oil and gas resource assessments. An oil or gas resource refers to known (discovered fields ) or potential accumulations of oil and/or gas ( i.e undiscovered prospects and leads ) in the subsurface of the Earth's crust. All reserve and resource estimates involve uncertainty in volume estimates (expressed below as Low, Mid or High uncertainty), as well as
18288-738: The reserves have been accounted) are likely sub-commercial and may still be under appraisal with the potential to be technically recoverable once commercially established. Natural gas is frequently associated with oil directly and gas reserves are commonly quoted in barrels of oil equivalent (BOE). Consequently, both oil and gas reserves, as well as resource estimates, follow the same reporting guidelines, and are referred to collectively hereinafter as oil & gas . As with other mineral resource estimation , detailed classification schemes have been devised by industry specialists to quantify volumes of oil and gas accumulated underground (known as subsurface ). These schemes provide management and investors with
18432-452: The same strict definitions and controls. Analogs are applied to prospective resources in areas where there are little, or sometimes no, existing data available to inform analysts about the likely potential of an opportunity or play segment. Analog-only techniques are called yet-to-find ( YTF ), and involve identifying areas containing producing assets that are geologically similar to those being estimated and substituting data to match what
18576-421: The subsequent appearance of permanent human settlements allowed for the multiple and overlapping beginnings of civilizations in South America. One of the earliest known South American civilizations was Caral–Supe , on the central Peruvian coast. Though a pre-ceramic culture, the monumental architecture of Caral–Supe created one of the first cities of the world, generally dated to around 3500 BC, at Huaricanga in
18720-411: The subsistence economy, and natives were often captured by expeditions. The importation of African slaves began midway through the 16th century, but the enslavement of indigenous peoples continued well into the 17th and 18th centuries. The Atlantic slave trade brought enslaved Africans primarily to South American colonies, beginning with the Portuguese since 1502. The main destinations of this phase were
18864-548: The system used in the PRMS: Proven ( 1P ), Probable and Possible. Reserves defined as Probable and Possible are incremental (or additional) discovered volumes based on geological and/or engineering criteria similar to those used in estimating Proven reserves. Though not classified as contingent, some technical, contractual, or regulatory uncertainties preclude such reserves being classified as Proven. The most accepted definitions of these are based on those originally approved by
19008-466: The terms of the equation (see also Copula (probability theory) ), which preserve dependencies between parameters. These geostatistical methods are most commonly applied to prospective resources that still need to be tested by the drill bit. Contingent resources are also characterized by volumetric methods with analog content and uncertainty distributions before significant production has occurred, where spatial distribution information may be preserved in
19152-525: The treaty in 2010. In March 2020, President David A. Granger narrowly lost the snap elections , following Granger's government loss of a vote of no confidence back in 2018. Granger refused to accept the results, but eventually five months later, Irfaan Ali of the People's Progressive Party/Civic was sworn in as the new president because of allegations of fraud and irregularities. The National Trust of Guyana has designated nine historic sites as national monuments. A referendum in neighbouring Venezuela
19296-470: The very low human population density of the area, most of these forests are still intact. The Smithsonian Institution has identified nearly 2,700 species of plants from this region, representing 239 distinct families, and there are certainly additional species still to be recorded. The diversity of plants supports diverse animal life, recently documented by a biological survey organised by Conservation International . The reportedly clean, unpolluted waters of
19440-418: The volume of oil, water and gas that has been produced from a reservoir and the change in reservoir pressure to calculate the remaining oil & gas. It assumes that, as fluids from the reservoir are produced, there will be a change in the reservoir pressure that depends on the remaining volume of oil & gas. The method requires extensive pressure-volume-temperature analysis and an accurate pressure history of
19584-573: The western European architectural style to the continent, and helped to improve infrastructures like bridges, roads, and the sewer system of the cities they discovered or conquered. They also significantly increased economic and trade relations, not just between the old and new world but between the different South American regions and peoples. Finally, with the expansion of the Portuguese and Spanish languages, many cultures that were previously separated became united through that of Latin American. Guyana
19728-408: The wide range of volume uncertainties (typically P90-P50-P10 ). In the PRMS the range of volumes is classified by the abbreviations 1U , 2U and 3U again reflecting the degrees of uncertainty. Companies are commonly not required to report publicly their views of prospective resources but may choose to do so voluntarily. The total estimated quantity ( volumes ) of oil and/or gas contained in
19872-472: Was Chile in 1823, Uruguay in 1830, Bolivia in 1831, Guyana in 1833, Colombia and Ecuador in 1851, Argentina in 1853, Peru and Venezuela in 1854, Suriname in 1863, Paraguay in 1869, and in 1888 Brazil was the last South American nation and the last country in western world to abolish slavery. The European Peninsular War (1807–14), a theater of the Napoleonic Wars , changed the political situation of
20016-633: Was a useful form of agriculture. The Mapuche in Central and Southern Chile resisted the European and Chilean settlers, waging the Arauco War for more than 300 years. In 1494, Portugal and Spain, the two great maritime European powers of that time, on the expectation of new lands being discovered in the west, signed the Treaty of Tordesillas , by which they agreed, with the support of the Pope, that all
20160-421: Was described by early explorers Sir Walter Raleigh and Charles Waterton and later by naturalists Sir David Attenborough and Gerald Durrell . Southern Guyana is host to some of the most pristine expanses of evergreen forests in the northern part of South America. Most of the forests found are tall, evergreen hill-land and lower montane forests, with large expanses of flooded forest along major rivers. Thanks to
20304-566: Was elected three times as a member of the UN Security Council in 1975–76, 1982–83 and 2024–25. In 1978, a total of 918 people died at the Jonestown mass murder-suicide led by American cult leader Jim Jones at a remote settlement in northwest Guyana. Former U.S. President Jimmy Carter visited Guyana to lobby for the resumption of free elections. On 5 October 1992, a new National Assembly and regional councils were elected in
20448-560: Was held in December 2023 on the annexation of the disputed Essequibo region , which lies entirely in the territory of Guyana. The vote passed with a 95% majority, but with a low turnout, with analysts stating Maduro's government had falsified the results. This came at the same time as a Venezuelan military buildup on the Guyanese border, sparking concerns of war between the two states. The territory controlled by Guyana lies between latitudes 1° and 9°N , and longitudes 56° and 62°W ; it
20592-455: Was initially colonized by the Dutch before coming under British control , though there was a brief period during the Napoleonic Wars when it was occupied by the French . The region was initially partitioned between the Dutch, French and British before fully coming under the control of Britain. Suriname was first explored by the Spanish in the 16th century and then settled by the English in
20736-485: Was recognised in 1648 by Spain with the Peace of Münster , which stated under Article 5 that the Dutch would retain all of the lordships, cities, castles, fortresses, trades and lands in the... West Indies under their possession at the time. However, the treaty did not specify the boundary between Spanish Guiana and Dutch Guiana . Guyana achieved independence from the United Kingdom as a dominion on 26 May 1966 and became
#417582