Latest update April 3rd, 2026 12:35 AM
Guyana’s production capacity now at 900,000 barrels per day
…as 4th FPSO achieves first oil
Kaieteur News – The fourth Floating Production Storage and Offloading (FPSO) vessel in the Stabroek block has achieved first oil, bringing Guyana’s total installed capacity to 900,000 barrels per day (bpd). The announcement was made on Friday by the operator of the block, ExxonMobil Guyana Limited (EMGL).
The ONE GUYANA FPSO will produce oil from the Yellowtail Development. The US$10 billion project received government’s blessings on April 1, 2022. The FPSO was constructed by Dutch shipbuilder, SBM Offshore.
The vessel arrived in April and is the largest FPSO on the Stabroek block to date with an initial annual average production of 250,000 bpd and a storage capacity of two million barrels. Notably, oil produced from the FPSO will be marketed as Golden Arrowhead crude.
ONE GUYANA joins the Liza Destiny, Liza Unity, and Prosperity FPSOs. While the fourth vessel brings the installed capacity to 900,000 bpd, Exxon noted that production is currently around 650,000 bpd.
“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 per cent 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.”
The Stabroek block spans 6.6 million acres and is estimated to hold 11.6 billion barrels of oil equivalent, according to government.
The ONE GUYANA FPSO
Exxon’s first development in the Stabroek block achieved first oil in December 2019. On Friday, ExxonMobil Guyana boasted that its deepwater developments are the most successful in the world. The company said, “in five years, the company has started up four complex offshore mega-projects under budget and ahead of schedule – while simultaneously advancing plans for four additional projects by the end of the decade.”
In addition to the Yellowtail project, Exxon has two other sanctioned projects under its belt: Uaru and Whiptail. It has also submitted an Environmental Impact Assessment (EIA) for its seventh project, Hammerhead, with production targeted for 2029. Additionally, the company has filed an application for an eighth development, Longtail.
By 2030, ExxonMobil Guyana expects to have total production capacity of 1.7 million oil equivalent barrels per day from eight developments.
ExxonMobil Guyana holds a 45 per cent interest, with Hess Guyana Exploration Ltd. holding 30 per cent, and CNOOC Petroleum Guyana Limited holding 25 per cent.
Moreover, the Ministry of Natural Resources in a statement on the achievement, said that it will continue to work to ensure prudent management of the petroleum sector to support long-term national benefit and sustainable development.
MNR noted that the Yellowtail Petroleum Production Licence has been the template for future licences, embedding stronger environmental and safety requirements, improved decommissioning safeguards, and alignment with Guyana’s broader climate commitments.
“The vessel will develop the Yellowtail and Redtail fields, discovered in 2019 and 2020, respectively. It is equipped with state-of-the-art Subsea, Umbilicals, Risers and Flowlines (SURF) infrastructure, enabling production from 26 production wells and 25 water-alternating-gas (WAG) injection wells,” the ministry noted.
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What is the total installed oil production capacity in Guyana after this achievement?