Oil production near Guyana is ramping up while production in places like the Permian Basin appears to be approaching a plateau.

Chevron’s imminent entry into Guyana’s rich offshore oilfields solves one of the biggest problems dogging the U.S. major: where its growth will come from beyond the next few years. On Friday, the U.S.

Chevron has a clear way for the major oil company to complete its $53 billion acquisition of Hess Corporation’s offshore assets in Guyana.