ExxonMobil Guyana Begins Production at Fourth Offshore Project
ExxonMobil Guyana has officially commenced production at Yellowtail, the fourth oil development in the offshore Stabroek block. This significant milestone elevates Guyana’s total installed oil production capacity to over 900,000 barrels of oil per day (bopd).
Key Highlights:
Production Capacity: Yellowtail’s initial annual average production is projected at 250,000 bopd, making it the largest development in Guyana to date.
Schedule: The startup was achieved four months ahead of schedule, showcasing ExxonMobil’s industry-leading project execution.
Investment in Local Workforce: Dan Ammann, president of ExxonMobil Upstream Company, noted that over 67% of the oil-and-gas workforce in Guyana is local, with more than 2,000 businesses engaged in the project, reinforcing the company’s commitment to inclusive growth.
The Yellowtail project utilizes the ONE GUYANA floating production storage and offloading (FPSO) vessel, which has a storage capacity of two million barrels. Oil produced from this FPSO will be marketed as Golden Arrowhead crude.
Looking ahead, ExxonMobil Guyana aims to achieve a total production capacity of 1.7 million oil equivalent barrels per day from eight developments by 2030. Over the past five years, the company has successfully launched four complex offshore mega-projects, all under budget and ahead of schedule, while concurrently advancing plans for four additional projects by the decade’s end.
ExxonMobil Guyana Limited operates the Stabroek block with a 45% interest, while Hess Guyana Exploration Ltd. holds 30%, and CNOOC Petroleum Guyana Limited possesses 25%.
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