The Stabroek co-venturers have committed more than US$60 billion to develop seven projects on Guyana’s offshore Stabroek block including Uaru, Whiptail, and Hammerhead. Photo: CMC

“Guyana’s story is one of continuous achievements because of the close collaboration with the Government of Guyana, our co-venturers, suppliers, contractors, and employees. Together, we are building a world-class energy sector that is delivering significant value for the people of Guyana,” said ExxonMobil Guyana President, Alistair Routledge.

In a statement, ExxonMobil said the achievement together with its co-venturers, Hess Guyana Exploration Limited, and CNOOC Petroleum Guyana Limited, comes just months after the successful startup of Guyana’s fourth offshore oil project at Yellowtail.

It said the project has now achieved its initial annual average production capacity of 250,000 barrels of oil per day.

“We continue to safely deliver industry-leading performance, providing the oil and gas the world still demands,” said Routledge.

The Stabroek co-venturers have committed more than US$60 billion to develop seven projects on Guyana’s offshore Stabroek block including Uaru, Whiptail, and Hammerhead.

The Uaru and Whiptail projects, Guyana’s fifth and sixth projects, are each expected to produce approximately 250,000 bopd.

The projects are expected to begin operations in 2026 and 2027, respectively, while the Hammerhead, the seventh project, is expected to add approximately 150,000 bopd when production begins in 2029.

Exxon said the eighth project, Longtail, is currently undergoing regulatory reviews. Once approved, ExxonMobil Guyana expects to have total production capacity of 1.7 million bopd from eight developments.