ExxonMobil's Yellowtail Project Propels Guyana's Oil Production to New Heights
ExxonMobil launches its fourth offshore Guyana project, Yellowtail, pushing national oil production beyond 900,000 barrels per day while maintaining strong local workforce participation and environmental standards.
ONE GUYANA FPSO vessel begins production at ExxonMobil's Yellowtail project offshore Guyana
In a significant development for Guyana's expanding energy sector, ExxonMobil has commenced production at the Yellowtail project, the fourth offshore development within the Stabroek Block, marking another milestone in the country's journey toward economic transformation.
Record-Breaking Production Capacity
The ONE GUYANA Floating Production, Storage and Offloading (FPSO) vessel, the largest of its kind in Guyana's waters, is set to boost the nation's daily oil production to over 900,000 barrels per day (bpd). This remarkable increase from the previous 677,000 bpd demonstrates the country's rapidly evolving energy landscape.
Technical Excellence and Local Impact
The project features state-of-the-art infrastructure, including:
- 26 production wells
- 25 water-alternating-gas injection wells
- Storage capacity of two million barrels
- Advanced gas processing capabilities
Economic and Social Benefits
Dan Ammann, President of ExxonMobil Upstream Company, highlighted the project's broader impact on Guyana's development. The initiative has created substantial opportunities for local participation, with Guyanese now comprising over 67% of the country's oil-and-gas workforce. This achievement aligns with the nation's commitment to transparent governance and economic progress.
Future Prospects and Environmental Commitments
The Yellowtail Petroleum Production Licence, approved in 2022, sets new benchmarks for environmental protection and safety standards. ExxonMobil projects a total production capacity of 1.7 million oil equivalent barrels per day from eight developments by 2030, positioning Guyana as a major player in global energy markets.
Adrian Singh
Business reporter focused on economic freedom, foreign investment, and institutional transparency.