- Yellowtail FPSO starts production, adding 250,000 bopd capacity.
- Total Guyana capacity now exceeds 900,000 barrels/day.
- ExxonMobil plans 1.7 million barrels/day by 2030 from eight projects.
- ExxonMobil holds 45% interest in Stabroek block, Hess 30%, CNOOC 25%.
Project Launch
ExxonMobil Guyana has commenced production at Yellowtail, the fourth oil development in the offshore Stabroek block. The ONE GUYANA FPSO vessel, the largest on the block, has an initial production capacity of 250,000 barrels of oil per day (bopd) and a storage capacity of two million barrels. This addition increases Guyana's total installed capacity to over 900,000 bopd.
Local Workforce and Economic Impact
Yellowtail's startup is ahead of schedule, marking a significant milestone for both ExxonMobil and Guyana. The project employs a local workforce, with Guyanese making up more than 67% of the oil-and-gas sector. Over 2,000 local businesses are engaged, reflecting the project's contribution to the country's economic growth.
Future Developments
ExxonMobil Guyana plans to expand its operations significantly by 2030, aiming for a total production capacity of 1.7 million oil equivalent barrels per day from eight developments. The company has successfully launched four complex offshore mega-projects in five years, all under budget and ahead of schedule, and is advancing plans for four additional projects by the end of the decade.
Partnerships and Interests
ExxonMobil Guyana Limited operates the Stabroek block with a 45% interest. Hess Guyana Exploration Ltd. holds a 30% stake, while CNOOC Petroleum Guyana Limited holds 25%. The oil produced from the ONE GUYANA FPSO will be marketed as Golden Arrowhead crude.
