The Government of Guyana is now expected to earn over $2.1 billion from the sale of Guyana’s share of profit oil, and US$341.2 million in royalties. Photo: News Source

According to the report, in the first half of 2025, the Government had fifteen lifts of profit oil from the three producing FPSOs, Liza Destiny (3), Liza Unity (6) and Prosperity (6).

During that period, the Government received over US$1 Billion as revenue from its share of profit oil, which included payments for two lifts that occurred in the final quarter of 2024, and 13 of the 15 lifts that occurred in n the first six months of this year.

In July, US$140.5 million was received as profit oil payments for the two Government lifts executed in June and the Government also received US$169.6 million in royalties related to crude oil production and sales in the final quarter of 2024 and the first quarter of this year.

The cumulative balance, inclusive of interest income of US$68.9 million, at the end of June was US$3,192.2 Billion, after withdrawals of US$1.2 Billion

“At the beginning of the year, it was anticipated that Government would have 31 lifts of profit oil from the Stabroek Block. Government is now projected to have 33 lifts this year, following the earlier-than-anticipated start-up of the One Guyana FPSO in August. With the additional lifts, petroleum deposits for the year are now projected to total US$2,512.4 million, only marginally higher than the US$2,503 million projected at the time of preparing Budget 2025, on account of lower crude oil prices,” the Finance Ministry stated.

The Government is now expected to earn over $2.1 billion from the sale of Guyana’s share of profit oil, and US$341.2 million in royalties. Further, in accordance with the NRF Act 2021, US$2.4 billion is expected to be withdrawn from the Fund this year.

As a result, the Finance Ministry noted that the NRF closing balance is estimated to stand at just over US$3,2 billion at the end of 2025.

The Ministry also noted that the oil and gas industry is estimated to have expanded by 5.5 percent in the first half of 2025 with Production in the first six months of the year totalled 115.7 million barrels, compared with 113.5 million barrels over the same period last year.