Chevron Secures 650,000 bpd Growth in Guyana After Venezuela Intervention
Chevron holds a 30% stake in Guyana’s Stabroek Block, which produced 914,730 barrels per day by December 2025 and will add 650,000 bpd by 2029 through Uaru, Whiptail and Hammerhead projects. A US intervention removing Venezuela’s threat secures these developments and bolsters Chevron’s long-term growth prospects.
1. Chevron’s Guyana Stake and Current Production
Chevron holds a 30% interest in the Stabroek Block alongside ExxonMobil (45%) and CNOOC (25%). By December 2025, the block was producing 914,730 barrels per day, marking Guyana’s rapid rise as a major non‐OPEC oil supplier and contributing significantly to Chevron’s upstream volumes.
2. Planned Capacity Additions and Timelines
Three new facilities—Uaru (250,000 bpd in 2026), Whiptail (250,000 bpd in 2027) and Hammerhead (150,000 bpd in 2029)—will collectively add at least 650,000 barrels per day. These expansions are expected to lift Guyana’s total output above 1.55 million bpd by decade’s end, directly enhancing Chevron’s production base.
3. Political Security and Long-Term Outlook
The removal of Venezuela’s leadership threat secures future project approvals, including the Longtail development slated for a final investment decision by end-2026. Longtail’s 290,000 bpd condensate and 1.5 billion cubic feet per day gas output by 2030 will further diversify Chevron’s hydrocarbon mix and revenue streams.