Oct. 5 (oilnow.gy) Guyana’s offshore oil production fell to an average 832,000 barrels per day (b/d) in August, the lowest monthly level in nearly a year, according to government data reviewed by OilNOW.
Production declined by about 54,000 b/d, or 6.1%, from the 886,000 b/d recorded in July.
The reduction was driven primarily by substantially lower production at the Payara project, while output at Liza 2 also declined.
Payara averaged approximately 207,000 b/d in August, down from 263,000 b/d in July, a reduction of about 56,000 b/d.
Output from Payara was particularly low during the first half of August before recovering later in the month.
Liza 2, meanwhile, averaged approximately 239,000 b/d, compared with 245,000 b/d in July. The project recorded a small production disruption following a fire aboard the Liza Unity floating production, storage and offloading (FPSO) vessel late in the month.
The reductions at Payara and Liza 2 were partly offset by higher production at Liza 1.
Liza 1 averaged approximately 115,000 b/d in August, up from 108,000 b/d in July.
Yellowtail, Guyana’s newest producing development, remained broadly steady at approximately 271,000 b/d, compared with 270,000 b/d in July.
Combined, the four projects produced approximately 25.8 million barrels during August.
The 832,000 b/d monthly average was Guyana’s lowest since September 2025, when production averaged approximately 771,000 b/d.
It was also the lowest monthly production level recorded since Yellowtail completed its ramp-up to its 250,000 b/d nameplate capacity. The project started producing oil in August 2025 and achieved and subsequently exceeded nameplate capacity in November.
The August decline therefore brought total output temporarily back below levels recorded since all four of Guyana’s producing projects had been operating at or around their established capacities.
For the first eight months of 2026, Guyana produced an average of approximately 891,000 b/d.
August also marked another milestone for the industry. Cumulative oil production since first oil in December 2019 crossed the one-billion-barrel mark during the month.
Despite August’s lower output, Guyana is approaching another substantial increase in production capacity.
Uaru, the fifth Stabroek Block development, is expected to begin production in the fourth quarter of 2026. Its Errea Wittu FPSO will target production of up to 250,000 b/d.
The project is expected to push Guyana’s production capacity to new highs as the country continues its rapid offshore expansion.
All of Guyana’s current oil production comes from the Stabroek Block.
ExxonMobil operates the block with a 45% interest. Chevron, through Hess, holds 30%, while CNOOC holds the remaining 25%.
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