The Ministry of Natural Resources has announced that the ONE GUYANA Floating Production, Storage and Offloading (FPSO) vessel started oil production today. The vessel arrived in Guyana back in April and is the fourth and largest FPSO operating offshore Guyana within the Stabroek Block.
In a statement, the Ministry explained that the vessel will be producing approximately 250,000 barrels of oil per day (bpd), and with that addition, Guyana’s total daily crude output will surpass 900,000 barrels per day. The previous combined average across the other three FPSOs was 670,000 barrels of oil per day.
The vessel will develop the Yellowtail and Redtail fields, which were discovered in 2019 and 2020.
In a separate statement this morning, ExxonMobil Guyana indicated that the Yellowtail project is ahead-of-schedule startup and represents a significant milestone for ExxonMobil and Guyana.
According to President of ExxonMobil Upstream Company, Dan Ammann, with Guyanese making up more than 67% of the country’s oil-and-gas workforce and over 2,000 local businesses engaged, the project reflects the company’s deepening roots in the country and its shared commitment to long-term, inclusive growth.
By 2030, ExxonMobil Guyana expects to have total production capacity of 1.7 million oil equivalent barrels per day from eight developments.
ExxonMobil said Guyana’s deepwater developments are the most successful in the world, indicating that in five years, the company has started up four complex offshore mega-projects under budget and ahead of schedule – while simultaneously advancing plans for four additional projects by the end of the decade.
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