South America’s newest oil producer, Guyana, has become a hotspot for oil and gas project activity. Following a string of successful discoveries in Guyana's Stabroek block, developed by ExxonMobil and partners since the original Liza-1 find in 2015, the country is on track to produce around 800,000 barrels per day (b/d) in the near future, supported by four FPSOs, including the recently commissioned One Guyana FPSO.

In Guyana, additional development phases, featuring some of the world’s largest FPSO designs by SBM Offshore and Modec, are progressing. The Uaru and Whiptail field development projects are scheduled to begin operations in 2026 and 2027, respectively. A seventh and eighth phase, the Hammerhead and Longtail fields, are also confirmed and advancing. With the reserves already discovered, development phases in the Stabroek block could ultimately total ten phases.

While E&P remains the main source of opportunities in Guyana, midstream and power are emerging sectors. The nation’s Gas-to-Energy project is underway, with a 250km pipeline being constructed from the Liza field to the shore, alongside a gas processing plant and a gas-fired power station. The project aims to reduce reliance on fuel imports and replace diesel and fuel oil with cleaner natural gas for power generation, strengthening the country’s energy security.

According to EICDataStream, projects and CAPEX in Guyana total 18 projects and over US$74bn, with contract activity growing steadily each year. From new FPSOs to pipelines and gas processing plants, the country offers a wealth of opportunities for the energy supply chain.