Oil production in 2026 drops to lowest in August

(Kaieteur News) – Oil production in August dropped to its lowest levels this year, following a fire aboard the Liza Unity Floating Production Storage and Offloading vessel (FPSO) and an unexplained drop in production at the Payara project, earlier in the month.

Production figures published by the Ministry of Natural Resources on its website indicate that just 697,000 barrels were produced on 1st August, 2026. This was as a result of decreased production at the Unity and Prosperity FPSOs which produced 179,000 barrels and 134,000 respectively. The Unity FPSO usually produces about 250,000 barrels while the Prosperity produces about 260,000 barrels daily.

Production slowly jumped but again slid to 701,000 barrels on 9th August 9 due to fallen output at the Payara project which only pumped 58 barrels.