The ‘One Guyana’ Floating Production Storage and Offloading (FPSO) vessel is expected to arrive in Guyana by the first half of this year.
Senior Minister in the Office of the President with responsibility for Finance and Public Service, Dr. Ashni Singh, made this disclosure during the presentation of the $1.382 trillion 2025 National Budget.
“Upon arrival, the FPSO will undergo its connection and installation campaign in keeping with the first oil in the latter half of 2025,” the Senior Finance Minister stated.
This FPSO, once on stream, will add with the three others and is anticipated to produce an average of 674,000 bpd this year.
Furthermore, Dr. Singh shared that the development of the Uaru Project will also continue this year with topside integration and the start of offshore installation supporting startup in 2027.
The Whiptail Project, he noted, will also progress with development drilling continuing and the start of topsides integration and the installation campaign.
He said, too, that the government will be reviewing the Field Development Plan for Hammerhead, with the first oil tentatively in 2029. These seven projects could see production climbing above 1.3 million bpd beyond 2027.
Relatively, the Senior Minister disclosed that production from the Stabroek Block has consistently increased, moving from 74,000 bpd in 2020, on average, to an average of 616,000 bpd in 2024.
“Last year’s performance was supported by higher output from the Destiny and Prosperity FPSOs amid optimisation efforts,” he noted.
