Crude Oil Lifts
Guyana is now projected to receive 84 million barrels of oil from the Stabroek Block in 2026, up from the 40 million barrels anticipated when the 2026 budget was prepared.
The total number of crude oil lifts is projected to be 326, up from an earlier estimate of 309.
The Guyanese government disclosed these figures in its mid-year report for 2026, published on 14 September.
Due to the additional lifts and higher crude oil prices, the value of petroleum deposits is now projected to be US$6.5 billion for 2026, which is 136.8% higher than the initial projection for 2026. The government of Guyana is expected to earn almost US$6 billion from the sale of its oil, as well as US$508 million in royalties.
This increase is also linked to the ExxonMobil-led Stabroek Block group’s faster recovery of historical expenses, as well as the planned ramp-up of production from the ONE GUYANA floating production, storage and offloading (FPSO) vessel.
Under the 2016 production-sharing agreement governing the Stabroek Block, the companies can recover eligible costs from up to 75% of the gross revenue from petroleum produced and sold. The remaining revenue, known as ‘profit oil’, is split equally between the government and the Stabroek Block partners: ExxonMobil, the operator, which holds a 45% interest; Chevron, through Hess, with 30%; and CNOOC with 25%.
In the first half of 2026, 162 crude oil lifts were recorded from the Stabroek Block. The government received 21 oil lifts from the four producing FPSOs: Liza Destiny, Liza Unity, Prosperity and ONE GUYANA.
During this period, the government received US$1.78 billion from the sale of its oil, including payments for three oil lifts in the final quarter of 2025 and 18 oil lifts in the first six months of 2026.
The report stated that US$218.4 million in royalties had been received for crude oil production and sales covering the final quarter of 2025 and the first quarter of 2026.
Earlier this year, the government projected an average daily oil production of around 840,000 barrels for 2026. Actual output averaged approximately 899,000 b/d during the first seven months of 2026, exceeding the projection by around 59,000 b/d (7%).
