The growth of Guyanese production is particularly significant in a global context, with non‑OPEC+ supply expected to drive much of the next wave of global oil production. The International Energy Agency projects that countries including Guyana, Brazil, Canada and the U.S. could collectively contribute nearly one‑third of global oil supply growth by 2030.

While rapid expansion could approach or even exceed incremental demand under certain scenarios, the outlook does not necessarily signal a glut. Demand in many emerging markets remains strong, and Guyanese crude continues to find willing buyers. In 2024, more than two‑thirds of early exports were shipped to Europe, where refiners value its light, sweet quality.  South America – led by Guyana and Brazil – is expected to remain a key driver of non‑OPEC+ supply growth through 2030.

Alongside Guyana, Suriname’s offshore basin is rapidly gaining attention, with emerging blocks attracting exploration and investment. Upcoming licensing rounds, technical capacity building and planned developments – such as the Block 58 project targeting initial production of 220,000 bpd by 2028 – are set to reinforce the basin’s status as a frontier offshore hub and create opportunities for regional energy integration.

For the wider Caribbean region, increased Guyanese and Surinamese output will enhance crude availability, supplying feedstock for local refineries and potentially lowering costs. Moreover, future gas‑to‑shore projects in both countries could provide cleaner-burning natural gas for power generation and industrial use, enhancing regional energy security and supporting greater energy diversification.

These themes will be highlighted at the inaugural Caribbean Energy Week, taking place on March 30–April 1, 2026 in Paramaribo. A plenary panel on “Deepwater Excellence – Driving Growth in the Guyana-Suriname Basin” will examine how the rapid expansion of offshore production in Guyana and Suriname will contribute to global and regional supply, while showcasing lessons from these frontier projects that can inform large-scale developments, workforce skill building and investment strategies across the Caribbean.

Achieving 1.7 million bpd in Guyana will require continued investment, drilling and robust infrastructure, alongside regulatory and fiscal stability. Similarly, Suriname’s upcoming projects hinge on clear licensing, favorable terms and sustained technical performance. While global energy transitions may influence long-term oil demand, near- and medium-term projections suggest that combined output from Guyana and Suriname will be strategically absorbed into global markets while supporting regional energy needs.

Join us in shaping the future of Caribbean energy. To participate in this landmark event, please contact sales@energycapitalpower.com.