BY: ANTONIO DEY | HGPTV NIGHTLY NEWS
ExxonMobil Guyana Limited and its Stabroek Block co-venturers — Hess Guyana Exploration Limited and CNOOC Petroleum Guyana Limited — have announced a major new milestone: daily oil production has reached 900,000 barrels per day.
The companies made the announcement on Wednesday, noting that the surge comes just months after the successful startup of Yellowtail, Guyana’s fourth offshore development. Yellowtail has now reached its targeted average production capacity of 250,000 barrels per day, contributing significantly to this record output.
Strong operating performance across Liza Phase 1, Liza Phase 2, and Payara also helped push production to the new milestone.
ExxonMobil Guyana President Alistair Routledge said the company continues to “safely deliver industry-leading performance, providing the oil and gas the world still demands.”
To date, the Stabroek partners have committed more than US$60 billion to seven government-approved offshore projects — including Uaru, Whiptail, and Hammerhead.
Uaru and Whiptail, the country’s fifth and sixth projects, are each expected to produce 250,000 barrels per day, coming online in 2026 and 2027. The Hammerhead project is projected to add another 150,000 barrels per day when operations begin in 2029.
A proposed eighth development, Longtail, is currently undergoing regulatory review.
Once all eight projects are approved and brought online, ExxonMobil says Guyana’s total production capacity could reach 1.7 million barrels per day.
ExxonMobil Guyana operates the Stabroek block with a 45% stake.
Hess holds 30%, and CNOOC Petroleum Guyana Limited owns 25%.
