Invest in Oil & Gas Sector
- Guyana lifted its first commercial shipment of oil in December 2019. This is projected to be the start of a very dominant national oil and gas industry with the estimated reserves of ten billion barrels of oil equivalent (boe).
- To extract this quantity of oil, the number of Floating Production Storage and Offloading vessels (FPSO) is estimated to increase from the current two to seven in 2027 and thereafter to 12. By 2027, the projected daily production is expected to increase from 340,000 barrels in the first quarter of 2022 with the coming on stream of the Liza Unity, the second FPSO, to one million barrels approximately. More recently, this has been increased to 1.5 million barrels.