GEORGETOWN, Guyana, (DPI) – ExxonMobil’s oil production offshore Guyana has now surpassed 650 million barrels since first oil in December 2019, with output on track to expand sharply before the end of this year.
The first three producing projects, known as Liza Phase 1, Liza Phase 2, and Payara, have each achieved major milestones.
Liza 1 has pumped more than 250 million barrels, Liza 2 has exceeded 270 million barrels, and Payara has already delivered over 135 million barrels. Combined, they account for more than 650 million barrels extracted in less than six years, underscoring Guyana’s rapid rise as a major oil producer. Production is currently averaging around 660,000 barrels per day (bpd) from the three projects.
With the start-up of the Yellowtail project this month, output is set to climb quickly. The government has projected that in the final quarter of 2025, average daily production will be about 786,000 barrels, with full ramp-up expected by year-end based on Exxon’s track record of rapid scale-ups.
The upcoming Uaru and Whiptail projects are slated to add 250,000 bpd each. That would lift Guyana’s production capacity above 1.4 million bpd, placing it far ahead of traditional per-capita leaders like Kuwait and Qatar. By that stage, Guyana will stand as the world’s largest per capita producer of crude oil by a wide margin.
The financial impact is already clear. Guyana has received more than US$1 billion in oil revenue so far this year, with total inflows expected to reach about US$2.5 billion from royalties and crude sales in 2025. By the end of the decade, as cost recovery eases and production continues to expand, annual government earnings are expected to swell toward US$10 billion.
Oil money has already changed the development arena thanks to the prudent management of the PPP/C government. With these funds, the government has made tuition at the University of Guyana free and financed the construction of 12 new hospitals. The government has also tied the sector’s growth to a broad development agenda, building roads and bridges, strengthening agriculture, raising salaries, and improving schools and health care. It intends to continue this massive development push once re-elected.
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