By Kemol King

GEORGETOWN, Feb 21 (Reuters) - Guyana's average oil

production fell to some 620,000 barrels per day in January from

656,000 bpd in December, the lowest monthly figure since August,

the Natural Resources Ministry said on Friday in a report.

A consortium led by U.S. oil major Exxon Mobil ( XOM ) and

involving Hess and China's CNOOC controls

all crude and gas output in the South American country through

three floating facilities.

Guyana's average oil output increased to 616,000 bpd

last year from 391,000 bpd in 2023 following facility upgrades

and production ramp-up at one of the group's vessels,

Prosperity, which began operations in late 2023.

The ministry's report did not elaborate on the fall.

The government also reported revenues of $230 million in

January from the country's share of oil output that was exported

by the government, and royalties. For all 2025, Guyana forecasts

$2.5 billion in revenue from the oil sector, a slight decline

from 2024 mainly due to expected lower crude prices.

A fourth producing vessel built by infrastructure firm

SBM Offshore this week departed from Singapore on its

way to Guyana's waters. It is expected to begin output in the

third quarter, Exxon said earlier this week, expanding the

consortium's output capacity to some 940,000 bpd.

Guyana's economy achieved its fifth consecutive year of

double-digit growth last year, expanding 43.6% as oil output and

exports showed solid increases.

Latin America's newest oil producer last year became the

region's fifth-largest crude exporter after Brazil, Mexico,

Venezuela and Colombia, and was identified as one of the main

contributors to global oil supply growth.

Energy executives and officials gathered in Georgetown

this week to discuss offshore projects and investment

opportunities as the government pushes for a shift towards

natural gas in the oil-dominated country.