-New FPSO to further boost production – Routledge

-by NaAsia Bristol

Guyana has crossed the one-billion-barrel oil production milestone, with production now nearing 900-thousand barrels per day.

And with the arrival of a new FPSO later this year, production is expected to surpass one million barrels per day by the end of 2026.

Guyana’s oil production continues to reach new frontiers, just over 11 years after the country’s first major oil discovery in 2015.

ExxonMobil Guyana President Alistair Routledge says production is now around 900-thousand barrels per day, with the country on the cusp of going way beyond the one-million-barrel-per-day mark.

That production is expected to receive another boost with the arrival of the new FPSO, Errea Wittu, later this year.

“Depending on how you count the barrels we may already have surpassed a billion barrels of production in Guyana. The first billion barrels of production. Quite a feat in such a short space of time and truly pushing beyond frontiers that in any other deep water or even offshore location has never been achieved at this pace with the same safety record and protection of the environment,” he said.

The announcement was made at the official launch of the Guyana Energy Conference and Supply Chain Expo 2027, which is set to return in February under the theme, “Beyond Frontiers: Guyana’s Energy Story.”

Director of Local Content Michael Munroe says the focus is on building a reliable, affordable and diversified energy sector, while strengthening environmental responsibility, investment and local participation.

“We know that overly focused and reliance on the energy sector can redound in what is universally known as the resource tertiary. So it’s important for us to diversify our economy and ensure that we’re resilient. And we’re using this moment of our energy wealth to of course build an economy that’s diverse, investing in traditional industries, expanding agriculture, manufacturing,” he said.

He says responsible management of the country’s natural resources must also ensure that today’s production creates benefits for future generations.