Latest update March 28th, 2026 12:30 AM
Latest News
Guyana’s oil hits 900,000 barrels daily
…Exxon says milestone reached after ramping-up of Yellowtail project to full capacity
(Kaieteur News) – Three months after ExxonMobil Guyana Limited (EMGL) brought its fourth Floating Production Storage and Offloading (FPSO) vessel, ONE GUYANA, on stream in the Stabroek Block, the country’s daily oil production has finally reached 900,000 barrels.
The milestone, announced by EMGL on Wednesday, follows the ONE GUYANA FPSO achieving its initial production capacity of 250,000 barrels of oil per day (bpd) from the Yellowtail Development.
The ONE GUYANA FPSO
When the vessel began producing oil in August, it brought Guyana’s total installed capacity to 900,000 bpd, however, daily output only recently ramped up to meet that full potential. The US$10 billion Yellowtail project received government approval on April 1, 2022. The FPSO, constructed by Dutch shipbuilder SBM Offshore, is the largest on the Stabroek Block to date, with an initial average production capacity of 250,000 barrels bpd and storage for two million barrels.
ExxonMobil said that production at Yellowtail reaching full capacity, combined with strong operating performance from the Liza Phase 1, Liza Phase 2, and Payara developments, contributed to achieving this major milestone.
“We continue to safely deliver industry-leading performance, providing the oil and gas the world still demands. 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,” ExxonMobil Guyana President Alistair Routledge stated.
ExxonMobil Guyana holds a 45% interest in the Stabroek Block, while co-venturers Hess Guyana Exploration Limited and CNOOC Petroleum Guyana Limited hold 30% and 25%, respectively.
The Stabroek Block spans 6.6 million acres and is estimated by government to hold 11.6 billion barrels of oil equivalent. In addition to the four projects currently producing, Exxon has three others sanctioned Uaru, Whiptail, and Hammerhead.
The Stabroek co-venturers have committed more than US$60 billion to develop seven government-approved projects offshore Guyana, including Uaru, Whiptail, and Hammerhead.
The Uaru and Whiptail projects Guyana’s fifth and sixth developments are each expected to produce approximately 250,000 bpd, with start-up targeted for 2026 and 2027, respectively. The Hammerhead project, the seventh development which received government approval back in September is expected to add around 150,000 bpd when it begins production in 2029.
Additionally, Exxon has filed an application for an eighth development, Longtail, which is currently undergoing regulatory review. Once approved, ExxonMobil Guyana expects to reach a total production capacity of 1.7 million bpd across its eight projects.
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Sir. Ronald Sanders
The GHK Lall Column
Weekend Cartoon
