ExxonMobil has reaffirmed Guyana’s growing importance within its global operations, with Business Services Manager John Colling declaring that the South American nation will remain a “very important component” of the company’s production strategy for years to come.
ExxonMobil currently has three floating production storage and offloading (FPSO) vessels operating in the Stabroek Block – Liza Destiny, Unity, and Prosperity. A fourth, Yellowtail, is already in Guyana and set to begin producing oil by the third quarter of 2025.
Exxon targets tripling Guyana output capacity in five years | OilNOW
“We have two additional sanctioned projects which will be online by 2027,” he noted. “And then a seventh and eighth project which we are reviewing currently.”
He said these developments underscore ExxonMobil’s long-term commitment to Guyana. “Clearly, this affiliate is very important to ExxonMobil Corporation,” Colling stated. “It will continue to be a very important component of our portfolio and our production going forward.”
‘Practically overnight’: Guyana’s oil boom becomes a global success story | OilNOW
ExxonMobil has placed Guyana among its top three deepwater developments globally. The country is also on track to become the world’s largest oil producer per capita, with daily output projected to reach 900,000 barrels.
The three current projects – Liza Phase 1, Liza Phase 2, and Payara – are collectively producing over 645,000 barrels per day. The Yellowtail FPSO is expected to add another 250,000 barrels daily when production begins.
ExxonMobil leads the Stabroek Block consortium, which includes Hess Corporation and CNOOC. The Block is now one of Exxon’s most valuable growth assets as global demand continues for low-cost oil.
