As the burgeoning Guyanese offshore oil and gas industry goes from strength to strength, powered by the Stabroek block, government revenue from domestic production is on track to break the $1 billion mark this year and accelerate to $7.5 billion annually in 2030, according to information provided by Rystad Energy research.
Rystad is signaling that last year (2024) was set to be a turning point for the Government of Guyana to commence capitalizing on what it says are the vast revenues in its offshore field. Rystad projects that in the coming years, the returns from the Stabroek Block will lift Guyana from a relatively small producer to a global leader in the period ahead.
Rystad’s projection asserts that the returns to the state from production is expected to increase in 2025, reaching $4.2 billion annually.