Crude oil production at the Stabroek Block offshore Guyana averaged approximately 635,000 barrels per day (bpd) over the first five months of 2025, according to production data published by the government.
This daily production rate reflects the performance of three projects—Liza 1, Liza 2, and Payara—that are being developed at the Block by a consortium led by ExxonMobil Guyana, with Hess and CNOOC as co-venturers. The total output for January to May 2025 amounted to an estimated 95.8 million barrels, maintaining an upward trend in oil production amid efforts to increase and optimize performance.
This output represents a 2.6% increase compared to 619,000 bpd achieved during the same period in 2024. In January, average daily production was approximately 620,000 bpd, totaling around 19.2 million barrels. Despite February being a shorter month, production increased to 648,000 bpd, totaling about 18.1 million barrels. March production averaged around 627,000 bpd, resulting in approximately 19.4 million barrels produced in the month.
April recorded a slight dip to 611,000 bpd, with total output for the month estimated at 18.3 million barrels. In May, production jumped to 667,000 bpd, reflecting the highest output yet due to optimization work executed last year at Liza 2 and Payara.
Disaggregated across the three producing projects, Liza 1 yielded more than 21.7 million barrels, Liza 2 contributed over 36.4 million barrels, and Payara topped them all with 28 over 37.6 million barrels. The Liza 2 and Payara projects recorded above-average production in the final week and a half of April, each averaging close to 260,000 bpd.
This production surge suggests that ExxonMobil Guyana has begun tapping into the optimized potential of these assets following debottlenecking work in 2024. While the FPSOs have not yet sustained these production figures for an entire month, based on government reporting, ExxonMobil observed production at 668,000 bpd in early May.
Historically, Liza 1 has demonstrated a production capacity of up to 160,000 bpd, and both Liza 2 and Payara can produce up to 265,000 bpd. Exxon has since estimated that optimized production levels at Liza 2 and Payara could each reach up to 265,000 bpd. When combined, the three projects have a total potential capacity of approximately 690,000 bpd.
First Oil from Yellowtail is targeted for August 2025, just weeks ahead of Guyana’s Elections scheduled for September 1.
Once operational, ExxonMobil Guyana expects Yellowtail to increase Stabroek Block production by up to 250,000 bpd. With Yellowtail, total offshore capacity would rise to roughly 940,000 bpd. However, monthly production often fluctuates. While 940,000 bpd represents the likely upper limit of output across all four projects, sustained production at that level would depend on various technical dynamics.
