Latest update March 26th, 2026 12:30 AM
1.8M barrels of oil produced from 4th project in first month
The Yellowtail project is operated by the ‘One Guyana’ FPSO
Kaieteur News – The US$10B Yellowtail project, Guyana’s fourth offshore development in the Stabroek Block has produced just over 1.8 million barrels in its first month of operation.
This is according to the daily oil production data published on the Ministry of Natural Resources website. See link attached: https://petroleum.gov.gy/data-visualization
Yellowtail achieved first oil on August 8, this year. The crude oil from that project, Golden Arrowhead, is being produced by the ‘One Guyana’ Floating Production Storage and Offloading vessel (FPSO).
ExxonMobil Guyana Limited (EMGL), the operator of the block commenced startup at just 13,000 barrels and gradually increased the vessel’s production. The highest production rate documented for August was 98,000 barrels. Production is usually done in a phased manner during startup to ensure the equipment performs optimally to achieve safe operations.
With the startup of Yellowtail, Guyana also recorded its highest daily rate of production on August 23, 2025 at 754,000 barrels. When fully operational, the Yellowtail project will produce 250,000 barrels of oil per day (bpd). This will increase the country’s daily capacity to 900,ooo barrels. Currently, the three other FPSOs- Liza Destiny, Liza Unity and Prosperity- average a daily output of 650,000 barrels.
Kaieteur News understands that the two companies previously contracted by the government of Guyana (GoG) will be responsible for the sale of the resources produced at Yellowtail. Government is likely to invite bids next month for new marketers. It was reported that United Kingdom (UK) companies, JE Energy and BB Energy won new contracts last year to market Guyana’s crude oil.
JE Energy had been contracted as the marketer of oil coming from the Liza-1 platform which uses the Liza Destiny FPSO, while BB Energy had been contracted as the marketer for oil from the Liza-2 and Payara platforms which use the Liza Unity and Liza Prosperity FPSOs, respectively.
It is unclear which of the companies have been selected to sell Guyana’s share of profit oil.
In keeping with the terms of the 2016 Exxon contract, 75% of production is recovered by the operator as cost. The remaining 25% is shared equally with Guyana as profit oil. Additionally, ExxonMobil pays 2% of its share of profit to the GoG as royalty.
By 2030, ExxonMobil Guyana expects to have total production capacity of 1.7 million oil equivalent barrels per day from eight developments.
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THE BLUNT OF THE DAY
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Sir. Ronald Sanders
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Guyanese people MUST take to the streets immediately with viciousness to demand a change in these contracts; if you do not take action now, you are doomed forever, because these bastards are quickly emptying the basins that belong to us and our grand-children.
When will ENOUGH be ENOUGH for you babbling fools, staying home, selling your fish and produce like the colonial slaves, while the bounty is captured by foreigners and their families?