GEORGETOWN, Guyana – Guyana's government on Friday welcomed the arrival of Errea Wittu, the country’s fifth and largest Floating Production, Storage and Offloading (FPSO) vessel, which it says will take oil production beyond one million barrels a day.
The Ministry of Natural Resources said the US$12.7 billion project targets more than 800 million barrels of recoverable oil and Natural Resources Minister Vickram Bharrat, said the arrival of the vessel represents an important chapter in Guyana’s oil and gas development story.
“With first oil expected in the fourth quarter of 2026, production is poised to cross the one-million-barrel-per-day mark. This is a major development for our country and one that brings with it greater responsibility to ensure Guyanese continue to benefit from the sector,” he added.
Earlier this week, President Irfaan Ali told a news conference that that new FPSO is the largest FPSO in Guyana’s fleet, designed to add roughly 250,000 barrels per day and push national output above one million barrel a day for the first time.
“Currently our four operating FPSO, Lisa Destiny, Unity, Prosperity and One Guyana, produce roughly between 900 to 920,000 barrels per day,” he added.
Constructed by the Japan-based MODEC, a global supplier and operator of offshore floating platforms for the Uaru development in the Stabroek Block, the Errea Wittu is expected to commence production in September.
Bharrat said that as production increases, the Guyana government remains committed to transparency in the management of the country’s petroleum revenues and to ensuring Guyanese benefit from the opportunities created by the industry.
“The government will continue to disclose petroleum revenue receipts through the National Assembly, ensuring the people of Guyana are kept informed about the revenues earned from their resources.
“We will also continue to push for greater local content opportunities so that more Guyanese workers and businesses can participate in and benefit from the growth of this industry,” he added.
The Stabroek Block currently produces approximately 900,000 barrels of oil per day and is operated by ExxonMobil Guyana Limited, which holds a 45 per cent interest. Also part of the offshore concession are Chevron, with a 30 per cent stake and CNOOC Petroleum Guyana Limited, with 25 per cent.
