‘One Guyana’ FPSO arrives in Guyana waters, installation works begin

– street festival to be held May 3 to mark arrival says ExxonMobil Guyana

Necessary installation activities for the One Guyana Floating Production Storage and Offloading (FPSO) vessel that will service the Yellowtail development, has begun, following the vessel’s arrival in Guyana’s waters, ensuring that the project can have its start up this year.

The Yellowtail Development is the fourth oil and gas development in the Stabroek Block, following on the heels of the Liza Phase One and Two and the Payara developments. The One Guyana FPSO that SBM Offshore was contracted to build in 2022, will be the vessel producing oil from this development.
The vessel is now in Guyana’s waters, and, according to a notice from the Maritime Administration Department (MARAD), installation activities for the US$10 billion FPSO began as of Tuesday. It was also explained that the installation activities for the FPSO, moored 110.65 nautical miles from the coast, will conclude on December 31, 2025.
Meanwhile, the Ministry of Natural Resources in a statement, welcomed the arrival of the vessel. The statement quoted Natural Resources Minister Vickram Bharrat describing the vessel as a profound symbol of progress.
“The arrival of the One Guyana FPSO is a powerful symbol of progress, not only in oil production but in the continued empowerment of our people through job creation, local business opportunities, and increased revenues that support development across Guyana,” Bharrat said.
According to the statement, the vessel’s arrival represents continued confidence in Guyana’s energy sector and the strength of the partnership between the Government and co-venturers ExxonMobil, Hess, and CNOOC.
Additionally, the Ministry reaffirmed its commitment to ensuring that the oil and gas sector continues to be developed transparently and sustainably for the benefit of all Guyanese.

Street Festival
Exxon Mobil Guyana also released a statement announcing that a street festival would be held on May 3 to mark the vessel’s arrival. Additionally, the street festival will highlight the benefits of the Yellowtail project to Guyana.
These benefits include the growing local content sector in Guyana, with an estimated 850 new local hires in the oil and gas sector, 1,250 companies registered, and the projected value of local content in 2025 expected to surpass US$847 million; almost US$104 million more when compared to the 2024 figure.
According to ExxonMobil Guyana in its statement, the Yellowtail Local Street Festival will showcase Guyana’s talent, flavours and creativity, along with a free kids’ zone, and entertainment that will highlight the best of Guyanese culture.
The statement meanwhile also quoted ExxonMobil’s Production Manager Huzefa Ali, who reaffirmed the company’s commitment to working with the Government of Guyana and industry partners.
“The arrival of the One Guyana FPSO symbolises the unwavering collaboration between our team, the Government, and our industry partners. We are proud to play a pivotal role in shaping the energy landscape of Guyana while fostering sustainable development and empowering the communities we serve,” Ali said.
The Yellowtail development is located in the eastern portion of the Stabroek Block, and involves the development of the Yellowtail and Redtail fields. The development is expected to generate approximately 1,300 jobs across four phases. It has previously been reported that the development plan for Yellowtail includes six drill centres and the drilling of up to 67 development wells.
The Yellowtail project is expected to begin with a production rate of 250,000 barrels of oil per day. It is estimated that when the Yellowtail development project comes on stream, total production will climb to 900,000 barrels per day by 2027. Additionally, ExxonMobil has already received approvals for, and is advancing preparatory works on, its fifth and sixth projects, Uaru and Whiptail.
There are currently three FPSOs operating in Guyana’s offshore waters: The Liza Destiny, the Liza Unity and the Prosperity. They are respectively working on the Liza One, Liza Phase Two, and Payara projects
Six FPSOs are expected to be operating offshore Guyana by 2027. The fifth FPSO, which would be named ‘Errea Wittu’, meaning “abundance” in the Warrau Indigenous language, would operate in the Urau project.
It would have oil storage capacity of two million barrels, an oil production design rate of 250,000 barrels per day, and be able to offload approximately one million barrels onto a tanker in a period of approximately 24 hours.
The Stabroek Block is 6.6 million acres (26,800 square kilometres). Exxon, through its local subsidiary Esso Exploration and Production Guyana Limited (EEPGL), holds 45 per cent interest in the block. Hess Guyana Exploration Ltd had had 30 per cent interest, which it recently sold to Chevron. CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds the remaining 25 per cent interest.