Guyana's Oil Production Surges Past 900,000 bpd, Targets 1.7 MMbpd by End of Decade

Guyana's oil production has surpassed 900,000 barrels per day (bpd) and is on track to reach an impressive 1.7 MMbpd by the end of the decade, according to Natural Resources Minister Vickram Bharrat.

The country's petroleum industry is rapidly expanding, with offshore development and exploration expected to continue driving investment in the sector. Guyana has seen significant growth since 2020, when production was around 80,000 bpd.

Bharrat emphasized the importance of local content in the oil and gas value chain, highlighting opportunities for international companies to partner with domestic businesses under Guyana's local-content framework. Currently, nearly 1,300 companies are registered with the Local Content Secretariat, and over 7,000 Guyanese workers have received training and certification for direct employment in the sector.

The country is also advancing its Gas-to-Energy (GtE) project, which aims to use natural gas produced from the offshore Stabroek Block for domestic power generation while recovering natural gas liquids. The project is targeting power generation before the end of 2026, according to Luis Pirela, Guyana country manager and board member at Lindsayca.