Guyana's Oil Boom: Production Surges Ahead

Guyana has seen a rise in oil production, averaging 918,000 barrels per day in February, up from 915,000 in January. The rapid production increase, led by Exxon Mobil in the offshore Stabroek oilfield, marks the country as a top producer in South America.

In a significant development for South America's oil industry, Guyana has achieved an average oil production of 918,000 barrels per day (bpd) in February, according to government data released on Monday.

This figure marks a slight increase from the 915,000 bpd recorded in January and is a substantial jump from the 2025 average production of 716,000 bpd. Guyana's oil boom is largely driven by Exxon Mobil's operations in the offshore Stabroek oilfield, where the company has significantly boosted output since beginning crude production in 2019.

The rapid growth in oil production has placed Guyana among the top oil producers in South America. Notably, all four projects in the Stabroek development are surpassing expectations, with the Yellowtail project, which started last year, now producing approximately 264,000 bpd. Exxon plans to seek government approval to further increase Yellowtail's capacity to about 290,000 bpd, according to its local head.

(With inputs from agencies.)