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ExxonMobil Commences Production at Yellowtail Development in Guyana
ByAinvest
Monday, Aug 11, 2025 5:12 am ET1min read
ExxonMobil Guyana has commenced production at its fourth project, Yellowtail, in the offshore Stabroek block. The project is expected to boost the country's oil output and joins three other projects already in operation. It includes one floating production, storage, and offloading vessel named ONE GUYANA and a subsea production system. ExxonMobil anticipates that by 2030, the combined production from eight developments will reach 1.7 million barrels of oil equivalent per day.
ExxonMobil (NYSE: XOM) has initiated production at its fourth project, Yellowtail, in Guyana's offshore Stabroek block. This development joins three other operational projects, significantly boosting the country's oil output. The project includes a floating production, storage, and offloading vessel named ONE GUYANA, which is the largest FPSO on the Stabroek block to date [1].The ONE GUYANA FPSO has an initial annual average production capacity of 250,000 barrels of oil per day (bopd) and a storage capacity of two million barrels. The oil produced from the FPSO will be marketed as Golden Arrowhead crude [2].
Dan Ammann, president of ExxonMobil Upstream Company, stated, "Yellowtail’s ahead-of-schedule startup is a significant milestone for ExxonMobil and the people of Guyana." The project reflects the company's deepening roots in the country and its shared commitment to long-term, inclusive growth [2].
By 2030, ExxonMobil Guyana expects to achieve a total production capacity of 1.7 million barrels of oil equivalent per day from eight developments at the Stabroek block [1, 2]. The company has successfully started up four complex offshore mega-projects under budget and ahead of schedule in the past five years [2].
ExxonMobil operates the Stabroek block with a 45% interest, while Hess Guyana Exploration Ltd. holds 30% and CNOOC Petroleum Guyana Limited holds 25% [2].
References:
[1] https://seekingalpha.com/news/4482738-exxon-starts-production-from-fourth-project-at-guyanas-offshore-stabroek-block
[2] https://www.marketscreener.com/news/exxonmobil-guyana-begins-production-at-fourth-offshore-guyana-project-ce7c5edddb8cf522
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