By Kemol King
Guyana’s offshore oil sector is experiencing yearly increases in the production rate.
Since First Oil at Liza 1 in December 2019, ExxonMobil and its partners have extracted more than 675 million barrels of crude from the Stabroek block. At the current production rate, the consortium expects to pump its billionth barrel by the end of the third quarter of 2026.
The pace reflects both the scale of the discoveries offshore Guyana and the rapidity with which ExxonMobil and its partners have brought new projects online. Production currently comes from four floating production, storage and offloading (FPSO) vessels: Liza 1, Liza 2, Payara, and Yellowtail.
The first three were in operation for the entire first eight months of 2025, while Yellowtail began producing on August 8. In the eight months alone, ExxonMobil Guyana extracted more than 150 million barrels. (Click herehttps://online.fliphtml5.com/dwrv/dlxy/#p=14 to read more)
