GUYANA’S offshore oil production continues to surge with the arrival of the fourth Floating Production, Storage and Offloading (FPSO) vessel, “ONE GUYANA,” which is poised to push national output close to one million barrels per day (bpd) once operations commence later this year.
The vessel, which arrived in Guyana’s waters this week, will support ExxonMobil’s Yellowtail development in the prolific Stabroek Block.
Built by SBM Offshore, the FPSO has a production capacity of 250,000 bpd and a storage capacity of two million barrels.

Once operational, it will increase Guyana’s daily production to approximately 900,000 barrels — solidifying the country’s rise as a major oil-producing nation in under a decade.
Natural Resources Minister Vickram Bharrat hailed the vessel as “a powerful symbol of progress,” highlighting that beyond barrels, the project is generating economic opportunities, job creation, and local capacity-building.
“This is about changing lives and empowering communities,” he said.

The vessel joins the trio of FPSOs already in operation — Liza Destiny, Liza Unity, and Prosperity — all of which are currently operating above their nameplate capacities.
Together, these FPSOs have helped ExxonMobil and its co-venturers Hess and CNOOC achieve key production milestones, including a year-end target of 500 million barrels extracted since the first oil in 2019.
With the addition of ONE GUYANA, the consortium is now on track to achieve its long-term target of 1.3 million bpd by 2027, once all six planned FPSO projects are up and running, backed by an estimated US$55 billion investment.

To celebrate the arrival of the vessel and to spotlight the positive social impact of the Yellowtail project, the government has announced a “Yellowtail Local Street Festival” scheduled for May 3, 2025.
The festival will celebrate Guyanese culture, cuisine, and talent, while showcasing how the oil and gas sector is driving transformation across the country.

The ONE GUYANA FPSO was constructed under SBM Offshore’s Fast4Ward® programme— a standardised design model that reduces time-to-market while ensuring robust performance. It includes a new-build multipurpose hull and modular topside systems.
Beyond its oil-production capabilities, the vessel is equipped with gas-treatment capacity of 450 million cubic feet per day and water-injection capacity of 300,000 barrels per day. It will be moored at a depth of 1,800 metres.
Yellowtail, the development it will support, features six drill centres and up to 51 wells. The entire operation mirrors a maturing offshore industry, increasingly built on partnerships with local suppliers and service providers.

In March 2023, SBM hosted a steel-strike ceremony to mark local fabrication work involving companies such as Industrial Fabrications Inc. (InFab), Guyana Oil and Gas Support Services Inc. (GOGSSI), and Zeco Group of Services.
The financial and developmental impact of Guyana’s oil boom is hard to overstate and since first production in December 2019, more than US$5.4 billion in oil revenues and royalties have been deposited into the country’s Natural Resource Fund.
In terms of local content, ExxonMobil Guyana continues to surpass expectations and today, approximately 6,000 Guyanese make up nearly 70 percent of the workforce operating in the Stabroek Block.

The government has also underlined its commitment to transparency and sustainability in the sector’s development, with a focus on ensuring that all Guyanese benefit from the country’s resource wealth, especially since the establishment of the Local Content Act.
ExxonMobil Guyana’s Production Manager, Huzefa Ali, called the arrival of the vessel “a testament to the unwavering collaboration between our team, the government, and industry partners.”
He added, “We are proud to play a pivotal role in shaping the energy landscape of Guyana, while fostering sustainable development and empowering the communities we serve.”

Guyana is now the third-largest oil producer per capita in the world — a major ascent for a country that started producing oil commercially just over five years ago.
As ExxonMobil Guyana ramps up production with its partners Hess (30 percent stake) and CNOOC (25 percent), global attention is increasingly fixed on this South American nation.

As it relates to the fifth FPSO, Errea Wittu which means “abundance” in Warrau language, construction is currently underway and will be located on ExxonMobil’s Uaru project. The start-up of the $12.7 billion Uaru development is targeted in 2026.
Last November, a “Steel Strike” ceremony was held to mark the start of work by three local companies to provide fabrication services for Guyana’s sixth FPSO vessel, the Jaguar. It will be located at ExxonMobil’s Whiptail project.