Guyana now producing about 740,000 barrels of oil daily

Guyana is producing about 740,000 barrels of oil per day from four projects in the giant Stabroek Block offshore, ExxonMobil Guyana President Alistair Routledge said on Monday.

The four projects offshore are: Liza I, Liza II, Payara, and Yellowtail.

Production at Yellowtail, the newest venture, started in August, around four months ahead of schedule. The ONE GUYANA floating production storage and offloading vessel is being used here. Once production goes up to full capacity, Guyana’s total output should be around 900,000 barrels of oil daily.

“We’re already producing over 740,000 barrels a day in September, well on the way to the pathway of 900,000 barrels of oil that we anticipate we will be producing by the end of this year,” Routledge told reporters on Monday morning.

The ONE GUYANA is the largest FPSO on the Stabroek block to date, with an initial annual average production of 250,000 barrels of oil daily and a storage capacity of two million barrels. Oil produced from the FPSO will be marketed as Golden Arrowhead crude.

By 2030, ExxonMobil Guyana expects to have a total production capacity of 1.7 million oil equivalent barrels per day from eight developments.

On Monday, Routledge said oil production at project five, Uaru, and project six, Whiptail, should start in 2026 and 2027, respectively.