Production data produced by the Ministry of Natural Resources show that Guyana recorded its highest output level in November 2022, reaching 389,000 barrels of oil per day.
This data set which is available on the ministry’s petroleum website, and only up to November 2022, notes that production for the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel was 152,550 barrels of oil per day on November 25, 2022. On the Liza Unity FPSO, the output was 237,850 barrels of oil per day.
Both ships are notably operating above nameplate capacity. Prior to optimization works, the Liza Destiny was originally designed to produce 120,000bpd while Liza Unity was outfitted to produce 220,000.
Guyana is expected to welcome its third FPSO, Prosperity, in the Stabroek Block which will operate at the Payara field and produce approximately 220,000 bpd.
At this rate, Guyana will be producing over 600,000 barrels of oil per day for 2023. This would catapult the new oil producer to being among the top 25 global oil giants of the world.
Guyana is expected to climb further up the totem pole as ExxonMobil Corporation through its subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) is poised to bring a fourth ship called One Guyana, on board in 2025. It will produce approximately 250,000 barrels of oil per day.
Discussions are also ongoing for approval to be granted for a fifth ship at the Uaru-Mako field to produce within the same production guidance. That vessel is expected in 2026. Project details are expected to advance for a sixth ship this year with start-up by 2027.
Exxon and its partners, Hess Corporation and CNOOC Petroleum Guyana Limited have said the country remains on track to hit 1 million barrels of oil per day by 2027.