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Tagged: oil production
- WorldGuyana’s Oil Production Is Established; Regional Hub Plans Remain ProspectiveGuyana has produced offshore crude since 2019 and is reported to be producing about 900,000 barrels a day. Guyana Times says the planned Uaru project is expected to lift output above one million barrels a day by year-end 2026, while a regional energy corridor and gas pooling remain plans or discussions. Suriname anticipates its first offshore production in 2028.1 min
- WorldGuyana’s Reported Oil Shares Before and After Exxon’s Cost RecoveryKaieteur News reports that the 2016 agreement allowed up to 75% of monthly oil production to be allocated to cost recovery, while Guyana’s reported share of profit oil during that period was 12.5%. After Exxon said its US$55 billion cost bank was cleared, the publication said Guyana’s profit-oil share had risen to 39.8%.1 min