ExxonMobil Raises Guyana Oil Capacity To 900,000 Barrels Per Day

Published: Friday, August 8, 2025 at 3:41 pm

ExxonMobil Boosts Guyana Oil Production, Eyes Major Global Role

ExxonMobil, in partnership with Chevron and CNOOC, has significantly increased its oil production capacity offshore Guyana. The recent startup of the Yellowtail project has added 250,000 barrels of oil per day (bpd) to the Stabroek consortium's output, bringing the total capacity to 900,000 bpd. This milestone was achieved ahead of schedule, a testament to the consortium's efficiency.

The Yellowtail project, the fourth deepwater project undertaken by the consortium in the last five years, is expected to help the Stabroek operation reach a capacity of 1.7 million bpd by 2030. This would position Guyana as one of the top 15 oil-producing nations globally.

ExxonMobil, as the operator, holds a 45% working interest in the Stabroek operations. CNOOC owns 25%, and Chevron holds 30%. The ONE GUYANA floating production, storage, and offloading (FPSO) vessel, operated by SBM Offshore, facilitates the Yellowtail operations. ExxonMobil will eventually acquire ownership of the vessel.

The development of the Stabroek project has already had a significant impact on Guyana's economy. The Guyanese government has received $6.2 billion in revenues as of the end of 2024, and revenues are projected to reach $10 billion annually by 2030. The consortium partners have invested a total of $55 billion in Guyana.

BNN's Perspective: The rapid expansion of oil production in Guyana presents both opportunities and challenges. While the economic benefits are undeniable, the government must prioritize responsible resource management and ensure that the wealth generated benefits all citizens. Striking a balance between economic growth and environmental sustainability will be crucial for Guyana's long-term prosperity.

Keywords: ExxonMobil, Guyana, oil production, Yellowtail, Stabroek, Chevron, CNOOC, barrels per day, FPSO, economic growth, revenue, offshore, deepwater, energy, production capacity

Full Story