Guyana, a small South American nation, is making headlines as it prepares to surpass one million barrels per day in crude oil exports. This milestone, expected in December, follows a dramatic expansion in its oil production capabilities. The country's first shipment of the new Uaru crude grade is set for December 11–12, with total exports for the month projected at 33 million barrels, or 1.06 million barrels per day. The achievement is especially notable given that Guyana produced virtually no crude oil just seven years ago.
The nation's oil journey began in 2015 with the discovery of significant reserves in the offshore Stabroek Block by ExxonMobil. Commercial production started in December 2019 with the Liza Phase 1 development, initially producing 120,000 barrels per day. Since then, the country has seen a series of expansions, including the addition of the Liza Unity FPSO in 2022 and the Prosperity FPSO in 2023. By November 2025, production had reached 900,000 barrels per day, setting the stage for the latest milestone.
The upcoming Uaru project, developed by Japan's MODEC, is set to debut in December and will add 250,000 barrels per day to Guyana's production capacity. This will mark the country's fifth producing development. Additional projects, including the Whiptail and Hammerhead developments, are expected to further boost output, potentially reaching 1.3 million barrels per day by late 2027. The Longtail project, targeting startup in 2030, will focus on natural gas and condensate, adding another 150,000 barrels per day. Together, these developments could push Guyana's installed production capacity to around 1.7 million barrels per day by 2030.
The rapid growth in oil production is transforming Guyana's economy. The IMF reported that the country's economy grew over 19% in 2025, with the Natural Resource Fund accumulating nearly $3.3 billion by year-end. As a new non-OPEC producer, Guyana's emergence is significant amid global supply disruptions and concerns over oil security. With multiple FPSOs set to come online before the decade ends, Guyana's rise as a global oil powerhouse appears to be just beginning.