ExxonMobil confirms production start date for Guyana's Yellowtail project

Published: 2025-05-29 16:40:11 ET XOM

Published on 05/29/2025 at 16:40

ExxonMobil's Yellowtail development offshore Guyana is set to commence production in August, strategically positioned just ahead of the country's national elections scheduled for September 1, OilNOW reported.

The fourth project in the Exxon-led Stabroek Block will utilise the ONE GUYANA floating production, storage and offloading (FPSO) vessel, which was successfully moored after arriving from Singapore.

SBM Offshore announced the completion of the mooring operation, highlighting efficient coordination and seamless teamwork in the rapid installation process.

Yellowtail is designed to produce up to 250,000 barrels per day of crude, representing the highest initial production target among FPSOs currently operating offshore Guyana. This addition will boost national oil production capacity to over 900,000 barrels per day, joining three other FPSOs already in operation.

Guyanese President Irfaan Ali announced that elections will be held on September 1, marking the first vote of Guyana's oil-funded development era. The governing People's Progressive Party Civic (PPP/C) backs Ali for a second term, while the main opposition parties, A Partnership for National Unity (APNU) and Alliance for Change (AFC), have discussed reviving their former coalition without reaching definitive agreements.

The timing of Yellowtail's startup presents both opportunities and challenges for the incumbent government, as increased oil revenues could bolster their electoral prospects while also intensifying scrutiny over resource management. With Guyana having begun spending oil revenues in 2022, this election will serve as the first major test of the government's stewardship of the country's newfound petroleum wealth.