Guyana Oil Exports Set to Surpass 1 Million Barrels per Day for First Time

Guyana, one of the world's newest oil exporters, is poised to surpass one million barrels per day in crude oil exports for the first time this December, marking another extraordinary milestone for the small South American country.According to Bloomberg, December's preliminary loading schedule includes 33 million barrels of crude exports, equivalent to approximately 1.06 million bpd. The first shipment of the country's new Uaru crude grade is scheduled for December 11–12, with total Uaru exports expected to reach four million barrels during the month.The achievement is particularly remarkable considering the country produced virtually no crude oil just seven years ago.From First Oil to One Million Barrels per DayGuyana's hydrocarbon development began in 2015, when ExxonMobil discovered significant oil resources in the offshore Stabroek Block. Commercial production followed in December 2019, with the Liza Phase 1 development and its Liza Destiny floating production, storage and offloading (FPSO) vessel initially designed to produce 120,000 bpd.The expansion has been relentless ever since.In February 2022, ExxonMobil brought the Liza Unity FPSO online, adding approximately 220,000 bpd of capacity. November 2023 saw the arrival of Prosperity at the Payara development, followed by the ONE GUYANA FPSO at Yellowtail in August 2025, adding another 250,000 bpd.By November 2025, ExxonMobil had confirmed that production had reached 900,000 bpd.The latest milestone follows another historic achievement: in September 2026, ExxonMobil announced that cumulative production from the Stabroek Block had surpassed one billion barrels.Three More FPSOs Are ComingAnd Guyana's production boom is only just getting started.The next major addition is the $12.7 billion Uaru project, developed around the Errea Wittu FPSO, which arrived off the coast of Guyana in August 2026. Built by Japan's MODEC, the vessel has a production capacity of 250,000 bpd and storage capacity of approximately two million barrels. Its December export debut will mark Guyana's fifth producing development.The sixth project, Whiptail, is scheduled to begin operations in late 2027. Its Jaguar FPSO, being developed by Dutch company SBM Offshore, will add another 250,000 bpd, potentially lifting national production capacity toward 1.3 million bpd.The seventh development, Hammerhead, received final investment approval in September 2025. The $6.8 billion project is slated to begin producing in 2029, adding another 150,000 bpd through a new FPSO.Beyond that, ExxonMobil is advancing Longtail, its eighth development, targeting startup in 2030. Unlike earlier projects, Longtail will focus heavily on natural gas and condensate production. While the export destinations for Longtail's gas and condensate remain unknown, ExxonMobil may use some of the gas to inject into its current production wells in order to maximize output. Guyana's government is currently reviewing its development plan and production license application.Together, the eight developments could lift installed production capacity to approximately 1.7 million barrels per day by 2030.Hydrocarbons boost economic growth in GuyanaThe expansion is transforming Guyana's economy. In its October 2026 assessment, the IMF reported that Guyana's economy grew more than 19% in 2025, with its Natural Resource Fund accumulating approximately $3.3 billion by year-end.As Oilprice.com previously reported, Guyana's emergence as a major non-OPEC producer has become particularly significant amid Middle Eastern supply disruptions and mounting concerns over the security of oil shipments through the Strait of Hormuz.For a country that only entered the global oil market in 2019, crossing the million-barrel export threshold represents a remarkable achievement. And with several more massive FPSOs scheduled to arrive before the decade is over, Guyana's rise as a global oil powerhouse may only be getting started.By Tom Kool for Oilprice.comMore Top Reads From Oilprice.comJapan to Compensate Oil Importers for High Shipping CostsPakistan Faces $1 Billion LNG Bill This WinterSuper El Niño Could Ease Asia’s LNG Supply Concerns