Guyana is projected receive over US$2.4 billion in deposits to the Natural Resource Fund (NRF) in 2026, driven by rising oil production and the startup of the Errea Wittu floating production, storage and offloading (FPSO) vessel.
This was disclosed by Senior Petroleum Coordinator at the Ministry of Natural Resources, Bobby Gossai, in a video update posted to the Ministry’s Facebook platform on January 31. He was providing insights into Budget 2026.
The Errea Wittu FPSO is expected to arrive this year and will produce 250,000 barrels of oil per day. Gossai said, “This will allow for over US$2.4 billion to be put into the NRF in 2026, which will continue to allow for the advancement of the economy.”
This sum does not include the payment of royalties Guyana is projected to receive this year.
The Errea Wittu FPSO, currently under construction by MODEC, is expected to be the largest unit in ExxonMobil’s offshore Guyana fleet.
Gossai said adherence to the fiscal framework of the Natural Resource Fund will allow the government to continue converting petroleum revenues into broader economic gains.
The fund is governed by a formula enshrined in law to determine a legally allowable withdrawal from the deposits in the previous year. In 2025, the NRF recorded inflows of US$2.47 billion (GY$515 billion).
Gossai noted that prudent technical, legal and fiscal management of the sector has positioned Guyana for another major expansion phase beginning in 2026.
“The positive external impact of the oil and gas sector on the Guyanese economy can be seen through various activities, whether that is the available employment opportunity…also the linkages to the traditional sectors that can provide the goods and services to the oil and gas sector,” he added.
Guyana’s oil and gas sector recorded an approximate 21 percent growth in 2025, with over 261 million barrels of oil produced from the Liza Destiny, Liza Unity, Prosperity, and ONE GUYANA FPSOs currently operating offshore at the Stabroek Block.
The Stabroek Block is operated by ExxonMobil, which holds a 45% stake, alongside Hess (30%) and CNOOC (25%).
