21/10/2026
Natural Resources Minister Vickram Bharrat says Guyana’s rapid rise from its first oil production to nearly one million barrels per day is unmatched anywhere in the world, with the country poised to cross the milestone as a fifth offshore production vessel prepares to join its expanding fleet.
Speaking at the opening of the World Trade Centre Georgetown’s International Trade and Investment Conference on Tuesday, Bharrat said Guyana had grown from producing about 80,000 barrels of oil per day when the current government took office in 2020 to more than 900,000 barrels per day today.
“No other country in the world has moved from zero to a million in such a short period of time,” the minister said, pointing to the speed of development in Guyana’s ultra-deepwater oil industry.
According to government figures, Guyana produced an average of approximately 902,000 barrels per day during the first half of 2026, up from about 639,000 barrels per day over the corresponding period in 2025. The increase reflects the contribution of new offshore developments, including the Yellowtail project, which began producing oil in 2025.
The fifth floating production, storage and offloading vessel, Errea Wittu, is expected to add another 250,000 barrels per day of production capacity when it begins operating from the Uaru development. The vessel is targeting first oil in the fourth quarter of 2026, although its designed capacity should not be confused with the volume it will necessarily produce from the outset.
The existing fleet comprises Liza Destiny, Liza Unity, Prosperity and ONE GUYANA, which together have pushed national output beyond 900,000 barrels per day.
The expansion is expected to continue beyond the million-barrel threshold. Guyana has set its sights on production of approximately 1.7 million barrels per day by 2030, with additional offshore projects planned to increase output.