Jan. 6 (oilnow.gy) Guyana is set to rank second among the world’s largest new oil field start-ups in 2026, with first production from the Uaru field expected to begin in July at nearly 136,000 barrels per day (b/d), according to S&P Global Energy CERA on January 5.
“Eight of the world’s largest oil field developments scheduled to start up in 2026 could add more than 450,000 b/d to global oil markets,” S&P Global Energy CERA said, noting that Africa and South America will provide the bulk of new supply.
Uaru’s start-up places Guyana behind Uganda, which leads the 2026 project list with two developments in the Lake Albert basin. Uganda’s Tilenga project, operated by TotalEnergies, is expected to add nearly 149,000 b/d, while the CNOOC-operated Kingfisher project will contribute a further 27,000 b/d.
In South America, production at Uaru is forecast to ramp up to about 215,000 b/d by 2027. Estimated recoverable reserves at the field stand at 825 million barrels.
Uaru is located in the Stabroek Block, where output is already around 900,000 b/d. The project is operated by ExxonMobil and represents the fifth development being advanced by the company offshore Guyana.
With Uaru coming on stream, Guyana could move into the top three oil producers in South America, up from its current position as fifth, as new offshore capacity continues to come online.
Japanese contractor MODEC is constructing the Errea Wittu floating production, storage and offloading vessel for the development. The unit will process and store crude from the Uaru field once operations begin.
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