Guyana’s oil production to surpass 900,000 bpd next week as Yellowtail project starts

…country to become world’s top oil producer per capita

Guyana’s daily oil production is set to increase by 37 per cent with the imminent start-up of its fourth offshore development, the Yellowtail project, operated by ExxonMobil. The project will add 250,000 barrels per day (bpd) to national output, raising production from June’s estimate of 664,000 bpd to over 900,000 bpd.
ExxonMobil CEO Darren Woods made the announcement during the company’s second-quarter earnings call on August 1, confirming that the Yellowtail development is on track to achieve first oil next week.
“Our fourth development is the largest to date. Yellowtail is next in line and anticipated to achieve first oil next week, delivered four months ahead of schedule and under budget,” Woods said.
The project is being brought online through the ONE GUYANA floating production, storage, and offloading (FPSO) vessel, which was built by SBM Offshore. The Dutch company has now delivered multiple FPSOs for Guyana’s offshore developments, consistently ahead of schedule.
Yellowtail will mark a major milestone not only for Guyana but also for the region. With its start-up, Guyana will become the world’s largest oil producer per capita.
ExxonMobil operates the Stabroek Block with a 45 per cent stake, while Chevron, following its acquisition of Hess, holds 30 per cent, and CNOOC owns 25 per cent. Together, the consortium has driven a rapid scale-up of oil production offshore Guyana since first oil in 2019.
Yellowtail is the fourth project in this series. Three prior developments – Liza Phase 1, Liza Phase 2, and Payara – are currently producing. Two more 250,000 bpd developments are expected to begin production between 2026 and 2028, while another two are undergoing the application process with potential start-up between 2029 and 2030. These future projects are expected to broaden the production space beyond oil to include natural gas and condensate.
ExxonMobil Guyana has been a notable contributor to global oil supply growth in recent years. With the addition of Yellowtail, CEO Darren Woods said the company remains on track to help bring production in Guyana to 1.7 million bpd by 2030.
Titanium reinforcements
Meanwhile, offshore-energy.biz reported on Friday that Hunting Subsea Technologies, the Texas-based subsidiary of London-headquartered precision engineering group Hunting, has provided the connections for a floating production storage and offloading (FPSO) to be deployed at a field offshore Guyana being developed by US energy giant ExxonMobil.
The eight titanium stress joints (TSJs) delivered will be integrated into the FPSO unit Errea Wittu that will work at the Uaru development within the Stabroek Block. According to Hunting, Uaru is among the most important deep-water projects in the Western Hemisphere, both in scale and strategic impact.
According to offshore-energy.biz, once installed approximately 200 kilometres offshore Guyana, at a water depth of 1690 meters, the vessel will be able to produce approximately 250,000 barrels of oil per day and will have associated gas treatment capacity of 540 million cubic feet per day, along with being able to store around 2 million barrels of crude oil.
“Our successful delivery to the Uaru project reflects the strength of our execution and the confidence leading operators place in Hunting when performance matters most. As offshore developments become increasingly complex and capital-intensive, we are seeing sustained demand for proven technologies that reduce risk and add long-term value,” said Dane Tipton, Managing Director of Hunting Subsea Technologies.