In the final week and a half of April 2025, Guyana’s offshore oil production witnessed an uptick, with both the Liza 2 and Payara projects averaging approximately 260,000 barrels per day (b/d) each. This indicates that ExxonMobil, the operator of the Stabroek Block, has begun tapping into the optimized production capacities of these developments.
ExxonMobil had previously indicated that, following optimization work completed in 2024, both Liza 2 and Payara were capable of producing up to 265,000 b/d, pending government approval. The increase in production aligns with the company’s reports from early May, which noted a daily production rate of approximately 668,000 b/d. This is expected to be reflected in the government’s May production report, to be published next month.
Despite the late-month surge, the overall production for April 2025 totaled 18.34 million barrels, averaging about 611,000 b/d. This represents a slight decline from March’s average of 627,000 b/d, due to lower production at Liza 2 in the first half.
The distribution of April’s average daily production was as follows:
- Liza 1: Approximately 141,000 b/d
- Liza 2: Approximately 214,000 b/d
- Payara: Approximately 256,000 b/d
April also marked the arrival of the ONE GUYANA floating production, storage and offloading (FPSO) vessel, which will support the startup of the Yellowtail Project, anticipated in the third quarter of 2025. The addition of Yellowtail is expected to elevate Guyana’s offshore production capacity to over 900,000 b/d. The government projects that, with Yellowtail online, average daily production in the fourth quarter of 2025 will reach approximately 786,000 b/d.
All production of oil offshore Guyana occurs in the Stabroek Block, operated by ExxonMobil, which leads a consortium that includes Hess and CNOOC.
Guyana’s Oil Ledger offers analyses of the latest oil production data and government oil fund receipts, published typically on a fortnightly basis. The column is authored by Kemol King, a journalist specializing in Guyana’s oil and gas sector.
