Guyana is positioned to become a major global oil producer, with preliminary export schedules indicating the country will surpass one million barrels per day in crude oil shipments this December. According to loading plans cited by Bloomberg, December operations are projected to include 33 million barrels of exports, translating to approximately 1.06 million barrels daily. The inaugural shipment of Guyana’s new Uaru crude grade is scheduled for early December, with total Uaru exports expected to reach four million barrels throughout the month.
The milestone represents a dramatic transformation for the small South American nation, which produced essentially no crude oil seven years prior. Guyana’s hydrocarbon sector began developing following ExxonMobil’s 2015 discovery of substantial oil reserves in the offshore Stabroek Block. Commercial production commenced in December 2019 through the Liza Phase 1 operation, equipped with the Liza Destiny FPSO vessel rated at 120,000 barrels daily. The expansion has proceeded rapidly, with the Liza Unity FPSO added in February 2022 contributing approximately 220,000 barrels daily, followed by additional capacity additions from subsequent developments.
Guyana’s production infrastructure now encompasses multiple floating production facilities. The Prosperity FPSO commenced operations at the Payara development in November 2023, while the ONE GUYANA FPSO began operations at Yellowtail in August 2025, contributing 250,000 barrels daily. Production reached 900,000 barrels daily by November 2025, and cumulative output from the Stabroek Block surpassed one billion barrels in September 2026.
The expansion trajectory continues through several additional planned developments. The Uaru project, valued at $12.7 billion and utilizing the Errea Wittu FPSO that arrived in August 2026, will contribute 250,000 barrels daily capacity. The Whiptail development is scheduled to begin operations in late 2027, introducing an additional 250,000 barrels daily capacity. The Hammerhead project, approved in September 2025, is targeted for 2029 startup with 150,000 barrels daily output, while Longtail operations are anticipated to commence in 2030 with emphasis on natural gas and condensate production.
These developments collectively position Guyana to reach approximately 1.7 million barrels daily production capacity by 2030. The rapid growth is substantially transforming the nation’s economy, with the International Monetary Fund reporting economic growth exceeding 19% in 2025 and a Natural Resource Fund accumulation of approximately $3.3 billion by year-end 2025. Guyana’s emergence as a non-OPEC producer is occurring amid broader global supply considerations, particularly concerning Middle Eastern disruptions and maritime security concerns in key transit regions.
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