The Guyana government says it is anticipating a significant increase in oil revenues in the future.
Natural Resources Minister Vickram Bharrat says the Liza Unity Floating, Production, Storage and Offloading (FPSO) vessel will be producing 120,000 barrels of oil per day.
He says the larger unit, the Prosperity FPSO vessel, will be producing close to twice the amount daily.
The Liza Unity and Prosperty FPSOs are expected to come on stream in 2022 and 2024 respectively.
Mr. Bharrat explained that, by 2025, the government is looking to make more than US$1 billion a year from the sale of Guyana's produced crude of about 560,000 barrels per day.
The government expects that figure to increase even more in the following years.
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