GEORGETOWN, Guyana, August 27, 2026/APO Group/ –Guyana’s projected 16.2% GDP growth in 2026, underpinned by an anticipated 17.9% rise in oil production and $2.79 billion in oil revenues, underscores how is the oil and gas sector is transforming the economy. 




 

Higher Oil Production Targets Drive Guyana’s Economic Expansion

With oil output expected to average 840,000 barrels per day (bpd) in 2026, with 309 crude cargoes forecast for export compared with 260 cargoes in 2025, the sector’s contribution to GDP is expected to remain bullish.

The government is targeting crude oil production of 1.3 million bpd by 2027 and 1.7 million bpd by 2030, creating the foundation for higher export earnings, stronger fiscal revenues and continued GDP expansion. Upcoming developments, including the $12.7 billion Uaru project, Whiptail, Hammerhead and Longtail, are expected to significantly increase production, and expand the sector’s contribution to an anticipated to reach GDP of between $50 billion and $69 billion by 2030.

Oil Investment Creates Opportunities Beyond Production

The sector’s contribution extends well beyond crude exports, with projects development accelerating the growth of a broader domestic economy as capital flows into construction, logistics, engineering, manufacturing, transport and financial services. The sector spent an estimated $3.6 billion with local businesses between 2019 – when first oil production was achieved – and 2025, reflecting the success of Guyana’s local content framework in ensuring that petroleum development generates tangible economic benefits for domestic companies and communities.

The petroleum sector has been the primary driver of Guyana’s exceptional economic performance. Oil production supported GDP growth of 63.3% in 2022, 33.8% in 2023, 43.6% in 2024 and 10.3% in 2025. According to the International Monetary Fund, offshore oil development has enabled Guyana’s economy to significantly outperform regional peers while accelerating its transition toward high-income economy status. The sector has also transformed the country’s fiscal position, with the Natural Resource Fund exceeding $3.1 billion by the end of 2024, including more than $1.1 billion deposited during 2024 alone, providing the government with unprecedented resources to finance national development priorities.

Oil Wealth Funds Infrastructure and Social Development

Oil revenues are also becoming a key source of financing for Guyana’s national development agenda. The government plans to utilize petroleum revenues to construct 40,000 homes over the next five years, while simultaneously investing in critical infrastructure, healthcare, education and transportation. In the energy sector alone, oil revenues are funding flagship initiatives such as the 300 MW Gas-to-Energy project, transmission network upgrades and clean cooking solutions, supporting energy mix diversification, improving electricity affordability and strengthening grid reliability.

As production continues to grow and new offshore projects enter development, oil and gas will play an increasingly important role in shaping Guyana’s economic future. Beyond generating export revenues and fiscal income, the sector is strengthening local industries, attracting international capital, supporting infrastructure development and creating opportunities across manufacturing, construction, finance and technology.

Caribbean Energy Week 2027 to Spotlight Guyana’s Growth Story

The role of oil and gas in driving GDP growth, investment and economic transformation will be a central focus at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments and international partners, the conference will examine how Guyana and the wider Caribbean can maximize hydrocarbon revenues to unlock the next phase of regional economic growth.

Ahead of the conference, an in-country launch in Guyana on 1, September 2026 at the Guyana Marriott Hotel in Georgetown, will explore strategies driving the Caribbean’s emergence as one of the world’s fastest-growing energy markets. The event will bring together government officials, investors, operators and industry stakeholders for an early look at the opportunities, priorities and partnerships that will shape the region’s energy future. To register, please visit https://apo-opa.co/46phc9L.

LUANDA, Angola, August 27, 2026/APO Group/ –Angola’s upstream industry is entering a new investment cycle, with gas commercialization, deepwater development, renewed exploration activity and an expanding independent operator base creating new opportunities across the market. Against this backdrop, energy intelligence firm Welligence has joined the Angola Oil & Gas (AOG) 2026 Conference and Exhibition as an Associate Sponsor.
 




 

Welligence provides upstream intelligence covering assets, reserves, production, economics, mergers and acquisitions and emerging investment opportunities, combining analyst expertise with data and AI-driven analytics. Its platform includes more than 4,000 asset-level reports and a database covering 40,000 M&A transactions, supporting companies evaluating upstream markets and investment decisions.

Angola represents an increasingly dynamic market for this type of intelligence. Welligence has identified the country’s upstream sector as entering a new phase of growth and repositioning, supported by gas developments, new oil projects, renewed exploration and rising activity among independent operators.

On the gas front, the start of Angola’s first non-associated gas project, led by the New Gas Consortium, is paving the way for increased feedstock supply to Angola LNG. Meanwhile, the country’s landmark dedicated gas discovery at Block 1/14 in 2025 has strengthened the role of gas commercialization within Angola’s broader upstream strategy.

At the same time, new oil developments are supporting production growth, although Welligence highlights the continued need for greenfield investment as mature assets decline. Recent milestones include the start-up of the Begonia and CLOV Phase 3 projects in 2025, the commissioning of the Agogo FPSO last August and continued progress at the Kaminho project, which is expected to begin production in 2028.

The operator landscape is also evolving. Welligence has highlighted renewed exploration activity by international majors alongside growing participation from independent companies, particularly as Angola’s onshore sector opens and operators seek to reactivate mature assets and build new portfolios.

Recent transactions reinforce this trend. Equinor entered TotalEnergies’ Block 17 in June 2026, while Afentra expanded its onshore footprint through operatorship of KON 5. Woodside Energy’s three-block deal signed in May further underscored growing confidence in Angola’s frontier opportunities, while Etu Energias strengthened its position through acquisitions in Blocks 14 and 14K.

These shifts are increasing the importance of reliable market intelligence as companies assess acreage, transactions, project economics and production potential. Welligence’s participation at AOG 2026 comes at a time when investors and operators are seeking greater visibility into the opportunities shaping Angola’s next phase of upstream growth.

As Associate Sponsor, Welligence will contribute an analytical perspective to discussions at AOG 2026, where industry leaders will examine the investments, partnerships and strategies driving Angola’s energy sector forward. With new entrants entering the market and established operators advancing major developments and exploration programs, data-driven insights will remain critical to guiding future investment decisions.

CAPE TOWN, South Africa, August 27, 2026/APO Group/ –After a series of major offshore discoveries transformed Namibia into one of the world’s most closely watched exploration frontiers, attention is shifting from proving resources to building the infrastructure, partnerships and industrial capabilities needed to bring them into production. At African Energy Week (AEW) 2026, the session “Invest in Namibia: Transforming Discoveries into Production. Orange Basin’s Path to First Oil” will examine how the country can capture value beyond the development of individual oil fields and use the emerging petroleum sector as a catalyst for wider economic growth.

 

TotalEnergies’ Venus discovery is technically ready to move toward a Final Investment Decision, with negotiations on fiscal terms still underway. The project’s development concept targets around 150,000 barrels per day at peak production, with first oil potentially around 2030. FEED has been completed and major contractors selected, bringing Namibia’s first potential deepwater oil development closer to execution.

Meanwhile, the Orange Basin continues to attract major international players. TotalEnergies and Galp strengthened their positions across the Venus and Mopane discoveries in 2025, with TotalEnergies becoming operator of Mopane and Galp taking a participating interest in Venus. In August 2026, Equinor agreed to acquire a 17.4% stake in Chevron’s PEL 90, marking its first upstream entry into a new country since 2017. The block is expected to see another exploration well before the end of the year.

The scale of investment now being contemplated makes the question of local economic participation increasingly urgent. Namibia’s draft Local Content Policy identifies the development of national capabilities, employment, local procurement and stronger domestic value chains as central to ensuring that petroleum resources generate benefits beyond government revenues. The government has also highlighted technical training and partnerships with universities and industry as priorities for preparing Namibians for the emerging oil and gas sector.

For Namibia, this means moving beyond an export-led model in which capital, equipment and specialist expertise flow in and crude flows out. Developing local suppliers, financing Namibian businesses, building research and training hubs and creating opportunities for joint ventures could help establish capabilities that extend well beyond the life of individual oil projects. The opportunity spans engineering and fabrication, logistics, marine services, environmental management, digital technologies and other areas of the petroleum supply chain.

“The real measure of Namibia’s oil opportunity will not simply be how many barrels it produces, but how much economic value those barrels create at home,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “Namibia has a chance to build a competitive African energy industry around its discoveries – one that creates jobs, develops local companies, transfers technology and gives Namibians a meaningful stake in the country’s energy future.”

The session will look beyond first oil itself to the ecosystem required to sustain production and translate upstream investment into long-term industrial development. With Venus, Mopane and further Orange Basin exploration moving toward development, Namibia has an opportunity to establish the commercial partnerships, financing structures and technical capabilities needed to ensure its petroleum boom becomes an economy-wide growth story.