Daily oil production in the Stabroek Block has surged to 900,000 barrels, marking a significant milestone announced by ExxonMobil Guyana and its co-venturers. This achievement follows the successful startup of Guyana’s fourth offshore oil project, Yellowtail, which has now reached its initial annual average production capacity of 250,000 barrels of oil per day.
Alistair Routledge, President of ExxonMobil Guyana, highlighted the ongoing success of operations in the Stabroek Block, emphasizing safety and industry-leading performance: “Guyana’s story is one of continuous achievements due to 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 delivers significant value for the people of Guyana,” he stated.
The Stabroek co-venturers have committed over US$60 billion for the development of seven projects within the offshore Stabroek Block, including Uaru, Whiptail, and Hammerhead. The Uaru and Whiptail projects, described as Guyana’s fifth and sixth projects, are each anticipated to produce approximately 250,000 barrels of oil per day (bopd). Operations for these projects are expected to commence in 2026 and 2027, respectively.
Additionally, the Hammerhead project is projected to add around 150,000 bopd when it begins production in 2029. ExxonMobil also mentioned that the eighth project, Longtail, is currently undergoing regulatory reviews, indicating continued growth and development in Guyana’s oil sector.
With this increase in production, Guyana solidifies its position as a key player in the global oil industry, contributing significantly to the nation’s economic growth and development.
