Guyana’s oil production capacity surpasses 900,000 barrels a day

ExxonMobil Guyana began oil production Friday at Yellowtail, its fourth offshore development in the Stabroek block, pushing the country’s total installed production capacity to over 900,000 barrels per day.

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The project’s ONE GUYANA floating production storage and offloading (FPSO) vessel joins the Liza Destiny, Liza Unity, and Prosperity FPSOs. With an initial average output of 250,000 barrels of oil per day and storage capacity of two million barrels, the ONE GUYANA is the largest FPSO on the block to date. Oil from the vessel will be sold as Golden Arrowhead crude.

“Yellowtail’s ahead-of-schedule startup is a significant milestone for ExxonMobil and the people of Guyana,” said Dan Ammann, president of ExxonMobil Upstream Company. “With Guyanese making up more than 67% of the country’s oil-and-gas workforce and over 2,000 local businesses engaged, this project reflects our deepening roots in the country and our shared commitment to long-term, inclusive growth.”

ExxonMobil expects to have capacity of 1.7 million oil-equivalent barrels per day in Guyana by 2030, with eight planned developments. The company says its Guyana projects are among the world’s most successful deepwater ventures, with four major offshore facilities launched in just five years — all under budget and ahead of schedule.

ExxonMobil Guyana Limited operates the Stabroek block with a 45% stake. Hess Guyana Exploration Ltd. holds 30%, and CNOOC Petroleum Guyana Limited owns 25%.