Guyana Cracks One Million Barrels a Day Oil Production, Eyes Gas-Fueled Power Surge

Guyana's oil production has surpassed 900,000 barrels per day and is on track to reach one million barrels by the end of 2026. The country plans to develop its natural gas resources for electricity generation, industrial development, and lower energy costs.

The Minister of Natural Resources, Vickram Bharrat, stated that the focus has shifted from oil production to monetizing Guyana's gas resources. He emphasized the importance of producing and monetizing gas resources.

At Wales, a 12-inch gas pipeline is being developed to transport up to 120 million cubic feet of gas per day. This supply will support two power plants with a combined generation capacity of 600 megawatts, as well as provide gas for other developments such as a proposed fertilizer plant and data centre.

The development of the Wales Gas-to-Energy Project is expected to broaden the impact of Guyana's natural gas resources beyond electricity generation. The project will also produce propane through the natural gas liquids facility, with a gas bottling plant planned for construction.