Guyana’s offshore oil production rate climbed by 5% in February 2025 compared to the previous month, reaching an average of 648,000 barrels per day (b/d), up from 620,000 b/d in January, according to government data.
Despite the increase in the daily rate, total oil production for February was lower than in January due to the shorter month—28 days versus 31. While January’s total production surpassed 19.2 million barrels, February’s output was just over 18.1 million barrels.
The production increase was primarily driven by gains at Liza 2 and Payara, which each produced around 236,000 b/d in January but increased to 252,000 b/d and 251,000 b/d in February, respectively. Meanwhile, Liza 1 decreased marginally from 147,000 b/d to 145,000 b/d.
The three projects combined have a production capacity of about 660,000 b/d. ExxonMobil, which operates the Stabroek Block with a 45% stake, has indicated that both Liza Phase 2 and Payara could produce up to 265,000 b/d each, but this level has yet to be demonstrated. The company has requested government approval to raise production, and officials were reportedly sent offshore to assess the infrastructure optimizations completed by Exxon. However, no formal approval for increased output has been publicly announced.
In February, about 16 cargoes of crude were lifted from Guyana’s oil fields, representing roughly 16 million barrels.
The Guyana government has projected average production of 674,000 b/d for 2025, up from 616,000 b/d last year. This is largely due to the anticipated startup of Yellowtail, the fourth offshore development, later this year. That project is expected to add 250,000 b/d to Guyana’s output capacity.
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.
