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March 28, 2026
ExxonMobil Guyana’s Payara field surpassed 100 million barrels of oil this week, the company announced on its Facebook page on Thursday.
“This week, we celebrate 100 million barrels of oil production from our Payara project,” the company said, noting that the Payara project started up just 15 months ago and is its third production project to be developed off the coast.
The company also expressed its excitement about the development of its fourth project, which will come on stream this year.
“Later this year, we look forward to starting up our fourth project, Yellowtail,” the company added.
ExxonMobil had previously stated that the Payara development would involve the acquisition of a third floating production, storage, and offloading (FPSO) vessel, Prosperity, to service the project. The project targets 220,000 barrels of oil per day.
With 10 drill centres, this project developed the Payara and Pacora resources. Forty-one wells were planned for development, including 20 production wells and 21 water and gas injection wells. The project commenced in 2023.
Dutch builder SBM Offshore developed Payara’s FPSO and is also building the country’s fourth unit, ‘One Guyana’, which will service the Yellowtail oilfield.
The Yellowtail development is Exxon’s largest project to date, with a target of 250,000 barrels of oil per day. The company stated that the project will entail six drill centres targeting the Yellowtail and Redtail resources, with 51 wells – 26 production wells and 25 water and gas injection wells. The Yellowtail project is expected to come online in the second quarter of this year.
