ExxonMobil’s Yellowtail development offshore Guyana is expected to come online in August, just ahead of national elections in the South American country.
Yellowtail, the fourth project in the Exxon-led Stabroek Block, will use the ONE GUYANA floating production, storage and offloading (FPSO) vessel, which was fully moored on May 5, 2025, less than three weeks after its arrival from Singapore. SBM Offshore, which delivered the vessel, announced the completion of the mooring operation on Monday via LinkedIn.
The project is designed to produce up to 250,000 barrels per day (b/d) of crude, the highest initial production target among FPSOs currently offshore Guyana. This will push national oil production capacity to more than 900,000 b/d, with three other FPSOs already in production.
The FPSO’s installation included a 20-line mooring system and was executed by the Normand Installer vessel, with SBM lauding efficient tug coordination, rescue drills, and seamless teamwork as key to the rapid integration.
Yellowtail is one in a string of multibillion-dollar developments in the Stabroek Block, operated by ExxonMobil with a 45% stake, alongside Hess at 30%, and CNOOC with 25%. The consortium has already sanctioned six projects and targets up to 10 in total, with two more developments, each designed to produce 250,000 b/d, scheduled for startup between 2026 and 2028. Additional projects targeting oil, gas, and condensate are under review for launches between 2029 and 2030.
Guyana’s President, Irfaan Ali, announced on Sunday that General and Regional elections will be held on September 1, the first of the oil-funded development era. The last election, in 2020, saw a five-month delay in results, marred by attempted electoral fraud that resulted in multiple court cases before a winner was declared.
For the upcoming vote, the governing People’s Progressive Party Civic (PPP/C), which holds a slim parliamentary majority, backs President Ali for a second term. The main opposition parties, A Partnership for National Unity (APNU) and the Alliance for Change (AFC), have discussed reviving their former coalition, but have not been conclusive in this regard.
Azruddin Mohamed, a popular businessman who was sanctioned by the U.S. last year for tax fraud and bribery, has declared his presidential candidacy. However, the Representation of the People Act, which governs the conduct of Guyana’s elections, does not make provisions for independent candidates. So, Mohamed is expected to soon announce his political party. Other groups expected to contest include A New and United Guyana (ANUG) and the VIGILENT Political Action Committee (VPAC).
Guyana began spending its oil revenues in 2022, and the upcoming vote will test the government’s stewardship of the windfall.
