With just a few weeks before August arrives, Guyana inches closer to becoming the world’s largest oil producer per capita.
The milestone is tied to the start-up of the ONE GUYANA floating production, storage, and offloading vessel (FPSO), the latest to hit the ExxonMobil-operated Stabroek Block for the Yellowtail development. Production is expected to start next month.
With it, Guyana’s output will soar from close to 650,000 barrels per day (b/d) to around 900,000 b/d. This signals even more opportunities for the South American nation, which has a population of around 750,000 people.
Arthur Deakin, who was Co-Director of Energy at Americas Market Intelligence (AMI) in 2021, first uttered the assertion. He predicted that Yellowtail would propel Guyana to be the 23rd largest oil producer in the world and 4th in Latin America, all based on 2020 volumes. But it’s now 2025 and Guyana has come a long way from producing 120,000 b/d.
Built by SBM Offshore, ONE GUYANA has a production capacity of 250,000 barrels of oil per day and can store up to two million barrels. It was also a win for local content as three local companies – ZECO, InFab and Guyana Oil & Gas Support Services Inc. (GOGSSI) – fabricated steel for the FPSO.
The Yellowtail Development includes six drill centers and up to 67 wells, with 26 for production and 25 for injection.
Exxon holds a 45% stake in the Stabroek Block, with Hess owning 30% and CNOOC holding 25%.
