ExxonMobil Guyana and its Stabroek block co-venturers, Hess Guyana Exploration and CNOOC Petroleum Guyana, have reached a new milestone in the South American country, with the production rising to 900,000 barrels of oil daily.
The achievement comes just months after the successful startup of Yellowtail, Guyana’s fourth offshore project, which has now achieved its initial annual average production capacity of 250,000 barrels of oil per day (bopd).
This combined with excellent operating performance from Liza Phase 1, Liza Phase 2 and Payara assets are contributing to achieving this significant milestone.
The Stabroek co-venturers have committed more than $60 billion to develop seven government-sanctioned projects on Guyana’s offshore Stabroek block including Uaru, Whiptail, and Hammerhead.
The Uaru and Whiptail projects, Guyana’s fifth and sixth projects, are each expected to produce approximately 250,000 bopd. The projects are expected to begin operations in 2026 and 2027, respectively.
Hammerhead, the seventh project, is expected to add approximately 150,000 bopd when production begins in 2029.
An eighth project, Longtail, is currently undergoing regulatory reviews. Once approved, ExxonMobil Guyana expects to have total production capacity of 1.7 million bopd from eight developments.
ExxonMobil affiliate ExxonMobil Guyana Limited is operator and holds 45% interest in the Stabroek block. Hess Guyana Exploration holds 30% interest, and CNOOC Petroleum Guyana holds 25% interest.
“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,” said Alistair Routledge, President, ExxonMobil Guyana.
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