Guyana should produce more than one million barrels of oil daily by the end of 2026 and the country’s Finance Minister. Dr. Ashni Singh is urging Guyanese to position themselves for the new investment opportunities that will emerge.
The country currently produces over 900,000 barrels of oil daily across four projects — Liza I, Liza II, Payara, and Yellowtail. When the Uaru project comes online later this year, adding another 250,000 barrels to the daily tally, Guyana will cross the one-million-barrel threshold.
Speaking at the 2026 Local Content Summit at the Four Points by Sheraton Hotel in Georgetown, he reminded the room that more than 2,500 local vendors have already capitalised on roughly US$2.5 billion in procurement opportunities since oil production began in December 2019. What's coming, he posited, dwarfs what's already been done.
“Imagine if you consider the transformation that we’ve already achieved and the business opportunities already achieved, contemplate what the next five years hold for us as a country and for you as private investors in Guyana,” the Finance Minister said.
The opportunities for Guyanese, he explained, aren’t only in the oil sector. Gas developments from the forthcoming Wales Gas-to-Energy project to the second development slated for Berbice, alongside spinoff opportunities such as alumina production, could stimulate further commercial activity. He also hinted at ongoing government discussions, noting that South America’s largest gold mine could soon open in Guyana.
“If you consider what is already happening in gold, what is happening and will happen with bauxite, including alumina refining capabilities… you will understand what’s happening. You make the effort to seek out the opportunities that are available,” Dr. Singh said.
Though emphasising that the government will not spoon-feed anyone, the Finance Minister said the Irfaan Ali-led administration is keen on supporting locals. He referenced the 2021 Local Content Act — legislation that carves out specific opportunities for Guyanese — as the administration's commitment to supporting locals. That law, he noted, could soon be revised to designate even more space for local participation.
However, the Finance Minister continued to stress that Guyanese must ready themselves to capitalise on the opportunities available.
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