Guyana asked to lead new group of global oil producers

Guyana has been invited to lead a group comprising the world’s newest oil-producing nations, starting next month.

Minister of Natural Resources Vickram Bharrat said the group would include countries such as Ghana and Suriname.

He believes the invitation was made in light of the success experienced in Guyana over the past decade.

Guyana is currently producing more than 650,000 barrels per day of oil in the Stabroek block via the Liza Destiny, Liza Unity and Prosperity floating production, storage and offloading vessels.

United States supermajor ExxonMobil has already ordered another three floaters, with the next one, the One Guyana FPSO, due to start output later this year in the Yellowtail field.

“We are well poised with the arrival of the new FPSO later this year to be very close or maybe over 900,000 bpd,” Bharrat added.

ExxonMobil estimates production in Guyana to top 1.2 million bpd once the Errea Wittu and Jaguar FPSOs enter operation later this decade. (Upstream)