Guyana expected to play key role in South America’s petroleum output over next decade

South America’s oil and gas output is expected to stay rather flat over the next five years, increasing to around 11.7 million barrels of oil equivalent per day (boe/d) by 2025, says Norway-based Rystad Energy.

The declining production from Venezuela, Argentina and Colombia is partially offset by increasing volumes from key projects in Brazil such as Lula, Buzios, Iara and Libra.