US ExxonMobil has commenced production from Yellowtail, its fourth oil development in Guyana’s offshore Stabroek block, four months ahead of schedule. The company reported an initial average production of 250,000 barrels per day (bbl/d) of oil throughout the year, and a storage capacity of two million barrels from the operating vessel.
The project involved ONE GUYANA, the largest floating production, storage, and offloading (FPSO) vessel on the Stabroek block to date, alongside the Destiny, Unity, and Prosperity FPSOs, thereby raising the country’s total installed capacity to over 900,000 bbl/d. Oil from the vessel will be marketed as Golden Arrowhead crude, said ExxonMobil.
“Yellowtail’s ahead-of-schedule startup is a significant milestone for ExxonMobil and the people of Guyana,” said Dan Ammann, president of ExxonMobil Upstream Company. “With Guyanese making up more than 67% of the country’s oil-and-gas workforce and over 2,000 local businesses engaged, this project reflects our deepening roots in the country and our shared commitment to long-term, inclusive growth.”
By 2030, the company aims to boost capacity to 1.7 million barrels of oil equivalent per day (mmboe/d) from eight planned developments. The company has brought four major offshore projects online in five years, each completed ahead of schedule and under budget, while progressing plans for four more.
The Stabroek block is operated by ExxonMobil Guyana Limited (45%), in partnership with Hess Guyana Exploration Limited (30%) and CNOOC Petroleum Guyana Limited (25%).
