ExxonMobil’s oil production offshore Guyana has surpassed 650 million barrels since the first oil in December 2019, with output expected to increase sharply this year.
The Liza Phase 1, Liza Phase 2, and Payara projects have each achieved significant milestones: Liza 1 has produced over 250 million barrels, Liza 2 more than 270 million barrels, and Payara over 135 million barrels. Current production averages around 660,000 barrels per day (bpd).
With the Yellowtail project starting this month, daily production is projected to reach about 786,000 bpd by late 2025, with future projects like Uaru and Whiptail expected to add 250,000 bpd each, potentially exceeding 1.4 million bpd.
So far this year, Guyana has received over $1 billion in oil revenue, with total inflows expected to hit $2.5 billion by year-end. By the decade’s end, annual government earnings could approach $10 billion, funding initiatives like free tuition at the University of Guyana and the construction of new hospitals, while enhancing infrastructure and services.
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