ExxonMobil Guyana started production at Yellowtail, the fourth oil development in Guyana's offshore Stabroek block, four months ahead of schedule. The project commenced operations with the ONE GUYANA floating production storage and offloading (FPSO) vessel, which joins the existing Destiny, Unity, and Prosperity FPSOs in the region.

Production Capacity and Technical Specifications

The Yellowtail project brings Guyana's total installed capacity to above 900,000 barrels of oil per day. The ONE GUYANA represents the largest FPSO on the Stabroek block to date, with an initial annual average production of 250,000 barrels of oil per day and a storage capacity of two million barrels. Oil produced from the FPSO will be marketed as Golden Arrowhead crude.

The project represents the largest Guyana development to date in terms of production capacity. ExxonMobil's startup achievement demonstrates what the company describes as industry-leading project execution, having completed the complex offshore mega-project under budget and ahead of its original timeline.

Local Workforce and Economic Impact

The Yellowtail project reflects significant local engagement in Guyana's oil and gas sector. Guyanese workers make up more than 67% of the country's oil-and-gas workforce, with over 2,000 local businesses engaged in the project operations. Dan Ammann, president of ExxonMobil Upstream Company, stated that the project "reflects our deepening roots in the country and our shared commitment to long-term, inclusive growth."

The ahead-of-schedule startup represents what Ammann described as "a significant milestone for ExxonMobil and the people of Guyana," highlighting the project's importance for both the company and the local community.

Future Development Plans

ExxonMobil Guyana expects to achieve total production capacity of 1.7 million oil equivalent barrels per day from eight developments by 2030. The company has demonstrated consistent project execution capabilities, having started up four complex offshore mega-projects in five years, all completed under budget and ahead of schedule while simultaneously advancing plans for four additional projects by the end of the decade.

The company characterizes its deepwater developments in Guyana as the most successful in the world, based on its track record of early completions and budget performance across multiple major offshore projects.

Ownership Structure and Operations

ExxonMobil Guyana Limited operates the Stabroek block and holds a 45% interest in the project. Hess Guyana Exploration Ltd. holds a 30% stake, while CNOOC Petroleum Guyana Limited maintains a 25% interest in the development. This partnership structure governs all operations within the Stabroek block, including the newly operational Yellowtail project. The operational framework established by this consortium has enabled the rapid development of multiple FPSO vessels and oil production facilities in the offshore region, contributing to Guyana's emergence as a significant oil-producing nation in recent years.

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