Guyana will produce 1.3 m barrels of oil per day by 2027 – Minister Indar
With Guyana currently producing approximately 400,000 barrels of oil per day with two Floating Production Storage and Offloading (FPSO) vessels, it is projected that by 2027, the country will see a vast increase of over one million barrels being produced daily.
This was revealed by the Minister within the Ministry of Public Works Deodat Indar, during a recent training session with Guyanese students at the Guyana Oil and Gas Chambers, Middle Street, North Cummingsburg, Georgetown.
“By the end of the year 600,000 barrels of oil will be produced per day, by 2027 we will end up with 1.3 million barrels per day, and we will continue to climb because we will have about 7 FPSOs working offshore by then,” stated the minister.
He added that three FPSOs will be operating on the Guyana shores by year-end.
Additionally, he acknowledged that this increase is extremely great for the country but is a testament to the management of the sector.
This, he noted, the government has been doing great with, as many developmental projects have already been finished, some started, and some near to end.
According to the public works minister, the government has not only shifted their focus to the oil and gas sector but is working to develop each and every sector.
“So, we have sustainability in terms of the money flow. What we do with the money is what is critical. We are investing it in a couple of areas, such as food production, energy, education and such,” Minister Indar stressed.
The way in which the government is spending the money in the country shows keen and sustainable thinking.