ExxonMobil Guyana’s oil production dipped slightly in June, averaging 664,000 barrels per day (b/d) down from 667,000 barrels in May, even as two of the three producing projects reached near-optimal output levels.
The Stabroek Block, operated by ExxonMobil, yielded a total of 19.92 million barrels in June. Liza 1 produced 131,000 b/d, while Liza 2 recorded its highest monthly output to date at 269,000 b/d. Payara followed closely with 264,000 b/d. Both Liza Unity and Payara are now producing near their optimized capacities.
In the first half of 2025, Guyana averaged 639,000 b/d, a modest increase over the 623,000 b/d recorded in the same period last year. The slight dip in June doesn’t disrupt the country’s upward trajectory, especially with new capacity on the way.
With core projects stabilizing and a fourth development on the horizon, Guyana’s oil sector is heading into its next growth phase. It will be defined by higher volumes, a new high-profile player, and increased long-term earnings for the country.
The upcoming Yellowtail oil development from the fourth sanctioned project offshore Guyana is expected to flow in August. It will lift national production capacity to around 940,000 b/d. The government has forecast an average daily output of 674,000 barrels for full-year 2025, with production in the fourth quarter expected to average 786,000 b/d once Yellowtail ramps up.
All production continues to come from the Stabroek Block, where ExxonMobil leads a consortium that now includes Chevron, following its acquisition of Hess, and China’s 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.
