Crude oil production offshore Guyana averaged 620,000 barrels per day (b/d) in January, the lowest it’s been since August 2024. The total volume produced was 19.2 million barrels.
Tankers lifted 20 cargoes of approximately a million barrels each in January, including some crude produced at the Liza 2 and Payara projects in late December.
The decrease in January production was due to marginal decreases at all three producing projects. The Liza 1 project, which can produce up to 160,000 b/d, averaged 147,000 b/d. Liza 2 and Payara can both produce 250,000 b/d, but produced at a virtually equal rate of 236,000 b/d.
Government notices related to tanker lifting schedules suggest a decrease in production at the Liza field projects in early February, with stable output at Payara throughout the month.
ExxonMobil is the operator of the Stabroek Block, where all producing projects are located. The U.S. major has a 45% stake, alongside Hess (30%) and CNOOC (25%). Three projects have a collective production capacity of 660,000 b/d. A fourth development is expected to begin production later this year, adding a capacity of 250,000 b/d.
Guyana’s Oil Ledger offers analyses of the latest oil production data and government oil fund receipts, published typically on a fortnightly basis. The column is authored by Kemol King, a journalist specializing in Guyana’s oil and gas sector.
