Petroleum industry in Guyana

Petroleum industry in Guyana is rapidly evolving. Guyana has emerged as one of the newest petroleum producing regions in the world, achieving its first commercial grade crude oil draw in December 2019. Crude oil is sent abroad for refining.

Since the onset of production, Guyana has experienced a rapid increase in oil output, with production levels reaching approximately 660,000 barrels per day by 2024. With plans to further increase production to about 1.3 million barrels per day by 2027, Guyana is set to significantly expand its influence in the global oil market, presenting new economic opportunities and challenges for the country.

In 2022 a Guyanese petroleum training facility was launched with investments in staff training amounting to 20 million US dollars. This training centre is located in East Coast Demerara. In December 2024, Guyana became the third highest per capita petroleum producing country in the world.

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