Guyana’s fifth FPSO to push oil production beyond one million barrels per day
Business
Finance
August 19, 2026
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Guyana is on track to surpass one million barrels of oil production per day with the arrival of its fifth Floating Production, Storage and Offloading (FPSO) vessel, marking another major expansion of the country’s petroleum production capacity and economic potential.
President Dr Mohamed Irfaan Ali said the fifth production vessel, which set sail from Singapore in early August, is expected to arrive off Guyana’s coast this week, with first oil targeted for the fourth quarter of 2026.
Built by MODEC at a reported cost of US$12.7 billion, the vessel is designed to add approximately 250,000 barrels per day to national production.
Business
Finance
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