Guyana’s First Oil Decade: The 2015–2025 Boom That Transformed a Nation

From Frontier to Phenomenon: The Liza Discovery

FYI: The last time I was in Guyana was in 1972, to visit families and friends.

Slow travel times.

From the Low Lands and my native paradise Curaçao, in the azure blue and emerald green Caribbean sea.

Via and from Paramaribo to Nickerie, crossing by ferry to Guyana, Springlands.

Then further in an adventurous and most interesting bus trip along the beautiful and endless coast.

To finally land in east Bonasika Street, close to Botanical Gardens and next to…Canje Street (did not now then anything about Canje Source Rocks).

Her parents house…

Back-to-business, further.

In May 2015, ExxonMobil announced the Liza-1 discovery in the deepwater Stabroek Block offshore Guyana.

This landmark well encountered over 295 feet (90 meters) of high-quality oil-bearing sandstone—turning global eyes to a basin long overlooked.

What followed was nothing short of historic.

Liza was not a one-off.

It was the first spark in what would become a decade-long ignition of world-class discoveries, positioning Guyana among the globe’s fastest-growing oil provinces.

FYI:

The first spark ?

Liza-1 was drilled in May 2015 by the Deepwater Champion drillship.

This vessel was operated by Transocean under contract with ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited. 

Anno 28th May, 2025?

Destination and Status: At Anchor and at Drillship Graveyard (reported ETA: 25/3/16 15:54 UTC).

Lat: 10.5475

Long: -61.7682

Near to Trinidad and Araya Peninsula, Venezuela.

Only a year after opening a new play and greatest world discovery of the last decades…

The last spark…

How cruel can life be.

Also for the Deepwater Champion.

Also see information on MarineTraffic.

World-Class Discoveries, Year After Year

Between 2015 and 2025, ExxonMobil and its partners (Hess and CNOOC) drilled over 40 exploration and appraisal wells.

Key discoveries—Tilapia, Yellowtail, Longtail, Payara, Sailfin, Ranger, Cataback, Redtail, Lau Lau—delivered stacked, high-net-pay sandstone and carbonate reservoirs.

The running total: 11.6 billion barrels of recoverable resources in the Stabroek Block alone.

In a following, companion post, I will mention and analyse all the discoveries individually and their impact, based on published data.

Production Rises — and So Does a Nation

First oil from Liza Phase 1 flowed in December 2019 via the Liza Destiny FPSO.

Since then, production has expanded with the addition of the Liza Unity and Payara FPSOs, crossing 645,000 barrels per day by early 2025.

Total oil produced (2019–2025): Approx. 400 million barrels.

Total government revenue:

Over $3.5 billion USD deposited in the Natural Resource Fund (NRF), fueling public infrastructure, health, education, and digital transformation.

Economic Transformation in Motion

GDP Growth: Over 35% in both 2020 and 2022; highest globally during multiple years.

Average income per capita: Surged from under $6,000 in 2015 to over $17,000 in 2024 (PPP).

Investor Confidence: Guyana hosted delegations from energy majors, private equity, and infrastructure investors globally.

This decade has reshaped not only the economy but also Guyana’s geopolitical weight in the region.

Regional Inspiration: The Golden Lane and Suriname

Guyana’s success ignited renewed enthusiasm across the Guyana-Suriname Basin.

The “Golden Lane” southeastward into Suriname saw significant exploration by TotalEnergies and APA Corporation in Block 58 and Petronas in Block 52.

Encouraged by ExxonMobil’s proven playbook, Suriname’s first deepwater oil development is expected by 2028.

What Lies Ahead: 2025–2030 Outlook

By 2030, Guyana may surpass 1.2 million barrels/day with the deployment of additional FPSOs like Yellowtail and Uaru.

Estimated total production by 2030 could exceed 2.5 billion barrels/day.

The NRF could surpass $40 billion, transforming Guyana into a sovereign wealth powerhouse if managed prudently.

Closing Reflection

Guyana’s first oil decade is more than a case study—it is a living example of how geological insight, investor conviction, IOC’s and good governance can reshape a nation.

About the Author

Kind regards,
Marcel Chin-A-Lien
Petroleum and Energy Advisor

48 years of global, in-depth expertise, knowhow, and insights that have generated transformative, multibillion-dollar giant field discoveries, iconic early capitalistic ventures in the USSR, bid rounds, added value, and long-term cash flow-generating offshore E&P activities in the Dutch North Sea, M&A, PSC designs, and contract negotiations.

Combined with a cross & transdisciplinary background of four postgraduate petroleum degrees, fusing technical, business, commercial, and management expertise, and fluency in seven languages across diverse geographic and socio-economic landscapes.

“Exploration & Production integrated with Business & Commercial Development and Critical Insights.”

• Drs – Petroleum Geology
• Engineering Geologist – Petroleum Geology
• Executive MBA International Business – Petroleum – M&A
• MSc International Management – Petroleum
• Energy Negotiator – Association of International Negotiators (AIEN)
• Certified Petroleum Geologist #5201 – AAPG (Gold Standard)
• Chartered European Geologist #92 – European Federation of Geologists (Gold Standard)
• Cambridge Award: “2000 Outstanding Scientists of the 20th Century”, UK
• Paris Awards: “Innovative New Business Projects” – GDF-Suez (2 Gold Awards, 2003)

Public Profile: LinkedIn Profile
Email: marcelchinalien@gmail.com