Oil production has started at ExxonMobil’s Yellowtail Development offshore Guyana, making it the fourth mega-project to startup in just five years offshore the South American country. This is according to announcements from the Government of Guyana and ExxonMobil, this morning.
Yellowtail’s ONE GUYANA floating production, storage and offloading (FPSO) vessel is now the largest production unit operating at the Stabroek Block. It has an initial production capacity of 250,000 barrels of oil per day and can store up to two million barrels. The FPSO was built by Dutch floater specialist SBM Offshore.
Guyana will hit several milestones with this startup. It will become one of the top five liquid-producing countries in Latin America (LatAm) and will also become the world’s largest oil producer per capita.
ONE GUYANA FPSO will support Guyana’s growing energy sector – First Lady Arya Ali | OilNOW
Yellowtail brings the country’s total installed capacity to over 900,000 barrels per day, alongside the Liza Destiny, Liza Unity, and Prosperity FPSOs.
Oil from the ONE GUYANA will be exported as Golden Arrowhead crude.
ExxonMobil Guyana Limited operates the Stabroek Block with a 45% stake. Hess Guyana Exploration Ltd. holds 30%, and CNOOC Petroleum Guyana Limited holds 25%.
