The government estimates that the oil and gas sector expanded by 124.8 percent last year and should continue on this path in 2023 with the addition of the Prosperity Floating Production Storage and Offloading (FPSO) oil platform.
According to the Minister of Finance Dr Ashni Singh, a total of 101.4 million barrels of oil was produced in 2022 compared with 42.7 million in 2021. “This performance is attributed to the commencement of production on our country’s second floating, production, storage and offloading (FPSO) vessel – Liza Unity – early last year. In 2022, the Liza Destiny FPSO produced crude oil at an average rate of approximately 128,000 barrels per day (bpd), compared with 117,000 bpd in 2021, and the Liza Unity FPSO produced at an average rate of about 169,000 bpd, reaching a peak monthly rate of just over 233,000 bpd in December,” he explained.
Last year, there were 102 lifts of crude oil from Guyana’s FPSOs, 13 of which were for Government.
