Guyana's oil production capacity has risen to 900,000 barrels per day (bpd) following ExxonMobil's commencement of operations at the Yellowtail field, the fourth development in the offshore Stabroek block, according to a report by Oilprice.com. The Stabroek block, where Exxon and its partners have discovered over 11 billion barrels of oil equivalent, was already producing more than 660,000 bpd prior to Yellowtail's startup. The ONE GUYANA floating production storage and offloading (FPSO) vessel at Yellowtail, the largest in the Stabroek block, has an initial annual average production capacity of 250,000 bpd and can store up to two million barrels. The crude produced will be branded as Golden Arrowhead. Data from the IndexBox platform highlights Guyana's growing role in global oil markets, with ExxonMobil aiming to reach 1.7 million bpd by 2030 through eight offshore developments. Chevron, now a key stakeholder in Guyana's oil reserves after acquiring Hess Corporation, holds a 30% interest in the Stabroek block. Exxon, the operator with a 45% stake, recently concluded arbitration over Chevron's Hess acquisition, which it initially contested under a joint operating agreement. CNOOC retains the remaining 25%. With a breakeven price estimated at $30 per barrel, Guyana's offshore fields remain highly profitable even amid lower oil prices, positioning both Exxon and Chevron for long-term gains.

Guyana Oil Production Reaches 900k BPD: ExxonMobil's Yellowtail Impact - News and Statistics

Guyana's oil production has increased to 900,000 barrels per day (bpd) after ExxonMobil began operations at the Yellowtail field, the fourth development in the offshore Stabroek block. The Stabroek block, which contains over 11 billion barrels of oil equivalent, was already producing over 660,000 bpd before Yellowtail's startup. The ONE GUYANA FPSO vessel at Yellowtail has an initial annual average production capacity of 250,000 bpd and can store up to two million barrels. Crude from the field will be branded as Golden Arrowhead. ExxonMobil, the operator with a 45% stake, has concluded arbitration over Chevron's acquisition of Hess Corporation, which now holds a 30% interest in the block. CNOOC holds the remaining 25%. Exxon and Chevron expect to reach 1.7 million bpd by 2030 through eight offshore developments. The fields remain profitable with a breakeven price of $30 per barrel, even amid lower oil prices.