4 days ago
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ExxonMobil Guyana Limited and its Stabroek Block co-venturers, Hess Guyana Exploration Limited and CNOOC Petroleum Guyana Limited, have reached a new production milestone of 900,000 barrels of oil per day, the companies announced.
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The achievement comes just months after the startup of Yellowtail, Guyana’s fourth offshore development, which has now reached its initial average production capacity of 250,000 barrels of oil per day (bopd). Combined with strong performance from Liza Phase 1, Liza Phase 2, and Payara, the new project helped push overall production to the record level.
“We continue to safely deliver industry-leading performance, providing the oil and gas the world still demands,” said Alistair Routledge, President of ExxonMobil Guyana. “Guyana’s story is one of continuous achievements because of the close collaboration with the Government of Guyana, our co-venturers, suppliers, contractors, and employees. Together, we are building a world-class energy sector that is delivering significant value for the people of Guyana.”
The Stabroek Block co-venturers have committed more than US$60 billion to develop seven government-sanctioned offshore projects, including Uaru, Whiptail, and Hammerhead.
The Uaru and Whiptail developments—Guyana’s fifth and sixth offshore projects—are each expected to produce around 250,000 bopd, with production slated to begin in 2026 and 2027, respectively. The Hammerhead project, the seventh in the series, is projected to add another 150,000 bopd when operations commence in 2029.
An eighth project, Longtail, is currently undergoing regulatory review. Once approved and operational, ExxonMobil expects total production capacity in Guyana to reach 1.7 million barrels per day across eight developments.
ExxonMobil Guyana Limited, an affiliate of ExxonMobil, is the operator and holds a 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30%, while CNOOC Petroleum Guyana Limited holds the remaining 25%.
English (US) ·