The Guyanese subsidiary of U.S.-headquartered energy giant ExxonMobil has reached a production milestone at a field it operates offshore Guyana.
The production milestone of 900,000 barrels of oil daily at Stabroek comes three months after the startup of Yellowtail , Guyana’s fourth offshore project, which has now reached its initial nameplate capacity of 250,000 barrels of oil per day (bopd).
This, combined with what the U.S. giant describes as excellent operating performance from the Liza Phase 1, Liza Phase 2 , and Payara assets, is said to have contributed to achieving this milestone.
Alistair Routledge , President, ExxonMobil Guyana, said: “We continue to safely deliver industry-leading performance, providing the oil and gas the world still demands. Guyana’s story is one of continuous achievements because of the close collaboration with the Government of Guyana, our co-venturers, suppliers, contractors, and employees. Together, we are building a world-class energy sector that is delivering significant value for the people of Guyana.”
ExxonMobil Guyana is the operator and holds a 45% interest in the Stabroek block. Its partners are Hess Guyana Exploration with a 30% interest, and CNOOC Petroleum Guyana with a 25% interest.
More than $60 billion has been invested to develop the seven government-sanctioned projects in Guyana’s offshore Stabroek block. The Uaru and Whiptail projects, Guyana’s fifth and sixth projects, are each expected to produce around 250,000 bopd once they become operational in 2026 and 2027, respectively.
The project will see the addition of 150,000 bopd when Hammerhead , the seventh project, starts producing in 2029. MODEC was recently put in charge of the full engineering, procurement, construction, and installation (EPCI) scope for the floating production, storage, and offloading (FPSO) that will be deployed at Hammerhead.
An eighth project, Longtail , is currently undergoing regulatory reviews. Once approved and in production, the project will contribute to the output of 1.7 million bopd in total from the eight developments.