Guyana took about six years and eight months to produce its first billion barrels of oil. The second billion could come in less than half that time.
That is not simply because more oil projects are coming online. It reflects a fundamental change in the scale of Guyana’s production base.
An analysis of government production data shows that 991.7 million barrels had been produced from the Stabroek Block by the end of July 2026. ExxonMobil Guyana President Alistair Routledge said that cumulative production surpassed 1 billion barrels in the third quarter. The milestone was reached in early August.
Guyana’s first billion was accumulated while production capacity was being built almost from scratch.
Liza 1 started producing in December 2019 from the Liza Destiny floating production, storage and offloading (FPSO) vessel. For more than two years, it was Guyana’s only producing development. Liza 2 followed in 2022, Payara in 2023 and Yellowtail in 2025.
Each new project increased the rate at which Guyana could accumulate barrels. That distinction is critical when considering how quickly the next billion could be produced. Click here to read more.
