GEORGETOWN, Guyana – Guyana's government on Friday said that the first oil has been achieved from the One Guyana Floating Production, Storage and Offloading (FPSO) vessel, the country’s fourth offshore development within the prolific Stabroek Block.
In a statement, the Ministry of Natural Resources described the FPSO as Guyana’s largest production vessel, to date and that “one Guyana will be producing approximately 250,000 barrels of oil per day (bpd).
“With this addition, Guyana’s total daily crude output will surpass 900,000 bpd, up from the previous combined average of 677,000 bpd across the Liza Destiny, Liza Unity, and Payara Prosperity FPSOs.”
The ministry said the vessel will develop the Yellowtail and Redtail fields, discovered in 2019 and 2020, respectively and is equipped with state-of-the-art Subsea, Umbilicals, Risers and Flowlines (SURF) infrastructure, enabling production from 26 production wells and 25 water-alternating-gas (WAG) injection wells.
The ministry said that built by Single Buoy Moorings Inc (SBM) Offshore, a wholly owned subsidiary of IHC Holland, N.V, One Guyana is designed with significant environmental safeguards.
“It is the first FPSO offshore Guyana to feature installed sparing on all gas processing compressors, and ensuring uninterrupted gas handling even during planned or unplanned maintenance events.”
It said the Yellowtail Petroleum Production Licence, approved in 2022, has been the template for future licences, embedding stronger environmental and safety requirements, improved decommissioning safeguards, and alignment with Guyana’s broader climate commitments.
“The government of Guyana, through the Ministry of Natural Resources, will continue to work to ensure the prudent management of the petroleum sector to support long-term national benefit and sustainable development,” it added.
Meanwhile, ExxonMobil Guyana has welcome the development saying that “Yellowtail’s ahead-of-schedule startup is a significant milestone for ExxonMobil and the people of Guyana.
“With Guyanese making up more than 67% of the country’s oil-and-gas workforce and over 2,000 local businesses engaged, this project reflects our deepening roots in the country and our shared commitment to long-term, inclusive growth,” said Dan Ammann, president of ExxonMobil Upstream company.
Oil produced from the FPSO will be marketed as Golden Arrowhead crude and by 2030, ExxonMobil Guyana expects to have total production capacity of 1.7 million oil equivalent barrels per day from eight developments.
ExxonMobil Guyana’s deepwater developments are the most successful in the world. In five years, the company has started up four complex offshore mega-projects under budget and ahead of schedule – while simultaneously advancing plans for four additional projects by the end of the decade.
ExxonMobil Guyana Limited operates the Stabroek block and holds a 45 percent interest, with Hess Guyana Exploration Ltd. holding 30 percent, and CNOOC Petroleum Guyana Limited holding 25 percent.
