Guyana’s offshore oil sector has marked a major milestone, with daily production from the Stabroek block reaching 900,000 barrels of oil per day (bopd). The announcement was made on Wednesday by ExxonMobil Guyana Limited and its co-venturers, Hess Guyana Exploration Limited, and CNOOC Petroleum Guyana Limited.
The surge in output follows the ramp-up of Yellowtail, the country’s fourth offshore project, which has reached its initial annual average production of 250,000 bopd. Combined with steady production from the Liza Phase 1, Liza Phase 2, and Payara assets, this performance has propelled Guyana to new heights in oil production.
“This milestone reflects the strong operational performance of our Stabroek block projects,” said Alistair Routledge, President of ExxonMobil Guyana, noting the collaborative efforts of the government, co-venturers, contractors, and employees in building a world-class energy sector that benefits all Guyanese.
The Stabroek co-venturers have invested more than US$60 billion into developing seven government-approved projects, including Uaru, Whiptail, and Hammerhead. Uaru and Whiptail, expected to come online in 2026 and 2027 respectively, are each projected to produce around 250,000 bopd. Hammerhead, slated for 2029, is anticipated to add 150,000 bopd.
An eighth project, Longtail, is currently under regulatory review. Once all eight projects are operational, total production capacity from the Stabroek block is expected to reach 1.7 million bopd.
ExxonMobil Guyana Limited operates the block with a 45% interest, while Hess Guyana Exploration Limited holds 30%, and CNOOC Petroleum Guyana Limited owns 25%.
Guyana’s rapid rise as a key player in the global energy market continues to attract international attention, highlighting the nation’s strategic role in meeting global oil demand while generating significant economic value at home.
