Guyana has been identified as one of the emerging hotspots for offshore oilfield equipment, as global demand for subsea trees continues to rise, according to new insights from energy research firm Westwood Global Energy Group.In a recent update, the company said, “Subsea tree demand is building steadily, with a strong pipeline shaping the years ahead,” […]
OIL & GAS
Drilling at Uaru, East Coast surveys set to ramp up maritime activity
The Maritime Administration Department (MARAD) has issued two Notices to Mariners warning of ongoing offshore drilling activities and upcoming geophysical surveys along Guyana’s coast, urging vessels to exercise caution in affected areas.In Notice to Mariners No. 075 of 2026, MARAD said ExxonMobil Guyana Limited (EMGL) “will continue developmental drilling operations at the Uaru Project’s UA_3108 […]
Uaru FPSO to push Guyana’s oil production past 1M barrels daily by year-end
Guyana’s oil production is set to surpass one million barrels per day by the end of 2026, as ExxonMobil advances preparations for its fifth offshore development at Uaru.President of ExxonMobil Guyana, Alistair Routledge, on Thursday confirmed that the Errea Wittu Floating Production, Storage and Offloading (FPSO) vessel is nearing completion and is on track to […]
NRF climbs to $796.2B at end of February
Guyana’s Natural Resource Fund (NRF) recorded another increase in its balance at the end of February 2026, rising to $796.2 billion, according to the latest monthly financial report.The Statement of Financial Position and Performance shows that the fund opened the month with a balance of $741.27 billion and received significant inflows during the period.According to […]
Gov’t investing heavily in local training to build globally competitive oil and gas workforce
Guyana is ramping up efforts to train a world-class oil and gas workforce locally, with President Dr. Mohamed Irfaan Ali revealing that the government is investing about US$150,000 in each trainee at the newly commissioned Guyana Technical Training Institute (GTTI) in Port Mourant, Berbice. Speaking on his Tea on the Terrace podcast, the President said […]
Bharrat says Guyana’s oil and gas sector among best-managed globally
Minister of Natural Resources Vickram Bharrat on Tuesday told the National Assembly of Guyana that Guyana’s oil and gas sector is now regarded internationally as one of the best managed among producing countries, pointing to transparency, accountability and visible development outcomes as proof. “…let me say in this house, Mister Speaker, that Guyana’s oil and […]
Rubio warns investors will ‘just invest the money in Guyana’ if Venezuela lacks certainty
United States Secretary of State Marco Rubio has said international energy investors are unlikely to take risks in Venezuela’s oil sector if there are no strong guarantees for property rights, contract enforcement and legal protection, warning that companies could instead choose Guyana or other oil-producing jurisdictions. Rubio made the remarks while testifying on President Donald […]
Oil and gas steadfast with 16.2% projected growth in 2026 as production nears 840,000 bpd -Dr. Singh
Guyana’s oil and gas sector will continue to anchor strong economic expansion in 2026, with overall growth projected at 16.2 per cent, according to Minister within the Office of the President with responsibility for Finance, Dr. Ashni Singh. Speaking in the National Assembly on Monday as he outlined macroeconomic targets for 2026, Singh said Guyana’s […]
Guyana to launch first government-led 3D seismic survey across unlicensed offshore acreages
Guyana is moving to conduct its first government-led, multi-client 3D seismic survey across unlicensed offshore acreages, a step that will strengthen future petroleum licensing rounds and support the establishment of a local data repository. Senior Finance Minister Dr. Ashni Singh told the National Assembly that the government is engaging two seismic acquisition companies to conduct […]
NRF earned US$2.1B in profit oil in 2025 -Singh
Guyana’s Natural Resource Fund (NRF) received US$2.1 billion in profit oil revenues in 2025, according to Minister within the Office of the President with responsibility for Finance, Dr. Ashni Singh, during his Budget 2026 presentation in the National Assembly on Monday. Presenting the NRF update, Singh told the House that 260 lifts of crude oil […]