Guyana's Oil Boom Enters New Phase Amid Regional Energy Transformation

Caribbean Energy Week (CEW) 2027 has launched in Guyana as the country's oil boom enters a new phase. Senior government and industry leaders gathered in Georgetown to highlight opportunities beyond oil production, with exploration and the wider oil and gas value chain identified as major areas for growth.

Natural Resources Minister Vickram Bharrat noted that Guyana's production has surged from 80,000 barrels per day in 2020 to over 900,000 bpd, with the country on track to reach 1.7 million bpd by the end of the decade. The government's local-content drive is already reshaping the ecosystem, with nearly 1,300 companies registered and almost 7,000 Guyanese trained and certified.

Chief Investment Officer Peter R. Ramsaroop emphasized that energy availability and cost could unlock new investment across manufacturing and other industries, with the Gas-to-Energy (GtE) project expected to bring lower electricity costs when it comes online. The project is targeting power generation before the end of 2026.

The launch of CEW 2027 brings momentum from Guyana's rapid expansion into a regional forum focused on investment, partnerships, and the next chapter of the Caribbean's energy economy.