(WO) — Guyana’s oil production has climbed above 900,000 bpd and is on track to approach 1.7 MMbpd by the end of the decade as the country continues to expand offshore development and exploration, Natural Resources Minister Vickram Bharrat said.
Speaking at the in-country launch of Caribbean Energy Week 2027, Bharrat said Guyana’s production has grown from approximately 80,000 bpd in 2020, making the country one of the world’s fastest-growing oil producers.
Continued offshore exploration and development are expected to remain major sources of investment as Guyana builds out the broader oil and gas value chain. Bharrat also pointed to opportunities for international companies to partner with domestic businesses under the country’s local-content framework.
Nearly 1,300 companies are now registered with Guyana’s Local Content Secretariat, while almost 7,000 Guyanese workers have received training and certification for direct employment in the oil and gas sector, according to Bharrat.
Guyana is also advancing its approximately 300-MW Gas-to-Energy (GtE) project, which will 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.
The expansion of offshore production and associated gas infrastructure is expected to support additional investment in energy services, infrastructure and manufacturing as Guyana’s petroleum industry continues to grow.
Image credit: SBM Offshore
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