More than 85.0% of Latin America’s New Deepwater Oil Output Will Come from Guyana & Brazil 

• Guyana and Brazil will continue to play a dominant role in Latin America’s oil production growth by 2030, according to Norway-based energy research and business intelligence firm, Rystad Energy. 
• The region is set to add over four million barrels per day (mbd) of new crude oil and condensate capacity, accounting for 39% of global non-OPEC (Organization of the Petroleum Exporting Countries) additions.
• Guyana ranks as the 5th largest crude oil exporter in Latin America. Brazil has historically led production, but Guyana has emerged as a key contributor since production began at the Stabroek Block. By 2030, more than 85% of Latin America’s new offshore deepwater output will come from Guyana and Brazil, Rystad Energy said in an April 1 report.
• Major offshore oil developments across Latin America are poised to drive significant production growth in the coming years. Key projects include Brazil’s Búzios and Bacalhau fields, as well as ExxonMobil-led developments in Guyana such as Uaru, Whiptail, and Yellowtail. Notably, the Yellowtail project is expected to begin producing oil as early as the third quarter. Suriname’s GranMourgu project is slated to come online by 2028, adding a new frontier to the region’s energy landscape. Meanwhile, Mexico is gearing up to boost output through the Zama, Trion, and Polok-Chinwol fields. These developments underscore the region’s emerging role in global energy supply amid broader shifts in exploration and production strategies.
• According to Rystad Energy, global non-OPEC production capacity is expected to rise by 10.5 mbd between 2025 and 2030 but declines in mature fields will offset some gains. Latin America will see the highest growth at 1.9 mbd, outpacing North America, the Middle East, and Africa.
• Strong project approvals and a solid development pipeline will keep Latin America at the forefront of global supply expansion through the decade.

(Source: Oil Now)