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Guyana's Energy Industry


in figures

Hydrocarbons reserves:10 billion boe

Date of first oil:December 2019

Guyana: The Launch of a New Era

While still in its infancy, Guyana’s oil and gas industry is  already seeing impressive momentum. In 2008, ExxonMobil subsidiary Esso Exploration & Production started exploring the country’s offshore territory, and in May 2015, it became the first company to discover significant hydrocarbons reserves, through its Liza-1 well in the Stabroek block. Guyana now has estimated recoverable resources of at least 5 billion boe at Stabroek, from which production is expected to hit around 750,000 boepd by 2025. Esso has now made more than 15 discoveries in the block, and having achieved first oil at Liza in December 2019, is working to bring production to its phase-one target of 120,000 bopd.

The domestic offshore sector has gained much attention from international players since hydrocarbons were first discovered. Besides Stabroek, the country has seven active blocks in exploration and development phases: Kaieteur and Canje, also operated by Esso; Orinduik by Tullow Oil; Kanuku by Repsol; Corentyne and Demerara by CGX Energy; and Roraima by Anadarko.

New licensing is expected in Q3 2020 after a pause to allow authorities time to clearly define policy and implement mechanisms needed to properly govern the industry and ensure sustainable growth. International institutions including the World Bank and IMF have provided support to Guyana in its endeavours to establish strong regulatory frameworks. Additionally, the Ministry of the Presidency established the Department of Energy in August 2018, transferring to it care of the hydrocarbons portfolio from the Ministry of Natural Resources.

Trinidad’s upstream opportunities Palaash NARASE Aronco
Trinidad and Tobago - March 24, 2023

Palaash Narase, operations manager of Aronco Services, talks to The Energy Year about challenges facing Trinidad and Tobago’s…

Trinidad and Tobago - March 14, 2023

Jordan Pollonais, managing director of Inland Offshore Contractors Limited (IOCL), talks to The Energy Year about new advances…

Guyana’s offshore bid round stirs big interest
Guyana - March 08, 2023

Guyana’s ongoing offshore bid round has attracted the interest of at least 10 companies including Chevron, Shell and…

An edge in environmental monitoring technology_Frank-TEELUCKSINGH Trinidad Coastal Dynamics
Trinidad and Tobago - March 06, 2023

Frank Teelucksingh, managing director of Coastal Dynamics (CDL), talks to The Energy Year about progress and hurdles in…


Guyana maps

Guyana Licenced Areas 2019

    ExxonMobil to relinquish shares in Guyana
    Guyana - February 21, 2023

    Guyana intends to take back 20% of the shares of its prolific Stabroek Block from ExxonMobil and its partners, vice-president…

    A one-stop HR hub for Trinidad and Guyana Angela-LEE-LOY
    Trinidad and Tobago - February 16, 2023

    Angela Lee Loy, chairman of Eve Anderson Recruitment Agency & CEO Maria Chong Ton talk to The Energy Year about the current…



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