South America’s latest oil producer, Guyana has become a hotspot for project activity in the oil and gas market. Following a string of successful discoveries at the Stabroek block announced by ExxonMobil and partners since the original Liza-1 discovery in 2015, the country is now producing about 645,000 barrels per day (b/d) from three FPSOs. A fourth unit – the One Guyana FPSO – is expected to come online in 2025, adding 250,000 b/d and bringing the country’s total production capacity to nearly 900,000 b/d.

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 will start operations in 2026 and 2027, respectively. A seventh phase, targeting production from the Hammerhead oil field, could be sanctioned in 2H 2025, while an eighth phase has also been confirmed. The Longtail field will mark Guyana’s first dedicated offshore gas development and is expected to feature an FPSO designed to produce between 1 and 1.5 billion cubic feet per day (Bcf/d) of non-associated gas. Exploration and appraisal campaigns are still being carried out, potentially unveiling additional field development projects. Hess Corporation, one of the Stabroek partners, believes the block may hold up to 10 FPSOs, with 8 already confirmed. Soon, the country also intends to finalise the Production Sharing Agreements for 6 shallow water and 2 deepwater blocks that received offers from various players such as ExxonMobil and TotalEnergies.

While E&P remains the key source of opportunities for the oil and gas supply chain in Guyana, with more than US$67bn of estimated CAPEX being track on EICDataStream, midstream and power are also important emerging sectors. An ambitious project to utilise gas produced offshore is advancing, with Subsea 7 and Van Oord selected to build a 250km pipeline from the Liza field to the shore. A natural gas processing plant and a gasfired power plant are also being built as part of the Gas-to-Energy Project, allowing Guyana to reduce dependence on fuel imports and replace diesel and fuel oil as power generation sources with cleaner natural gas. Guyana’s project portfolio is increasing in number and CAPEX, and contract activity grows steadily every year. From FPSOs to pipelines and gas processing plants, the South American country offers a wealth of opportunities for the energy supply chain.