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Country report
Dec 2025
China’s Official Energy Finance in Emerging and Developing Economies Case 6. CNOOC investment in Guyana: Whiptail Oil Field
Project overview and impact Guyana has become a dynamic upstream oil market, transforming from a non-producer to an emerging oil exporter within the decade. Since the first discovery of oil in the Stabroek Block in 2015, six large-scale developments have been approved, turning the area into a central pillar of the country’s economic strategy. Production is expected to exceed 1.3 million barrels per day by 2027, making Guyana one of the largest per-capita oil producers globally. The government’s production sharing contract allocates 14.5% of total crude output to the state, with the remainder…
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Contributor
Elizabeth Connelly
Energy Technology and Transport Analyst. Elizabeth Connelly leads the transport analysis within the Energy Technology Policy Division and coordinates the Global EV Outlook report series.
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Contributor
Henri Paillere
Head, Planning and Economic Studies Section at International Atomic Energy Agency (IAEA).
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Contributor
Noé van Hulst
Vice-Chair, International Partnership for Hydrogen and Fuel Cells in the Economy (IPHE).
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