EXXONMOBIL runs a string of massive oil projects in an area offshore Guyana called the Stabroek Block. The projects produce oil via floating production, storage and offloading vessels (FPSOs). Each FPSO brings up and stores crude and offloads to tankers. Each FPSO works with an extensive subsea infrastructure of wells, manifolds, umbilicals, flowlines and risers, which required major investments from the oil companies to be developed.

Crude oil produced from these FPSOs is shared between Guyana and the companies ExxonMobil, Hess (recently acquired by Chevron) and CNOOC. So far, they have produced and exported more than 650 million barrels of crude oil. Guyana’s share of sales revenue, together with royalties paid by the oil producers, is deposited into the Natural Resource Fund. That Fund underpins government investment in public infrastructure, social development, and economic diversification.

Liza Destiny (Liza Phase 1)
● First Oil: December 2019
● Oil Production Capacity: ~160,000 bpd
● Storage Capacity: 1.6 million barrels
● Oil Produced to Date: Over 250 million barrels
● Original Resource Base: 450 million barrels

Liza Unity (Liza Phase 2)
● First Oil: February 11, 2022

● Oil Production Capacity: ~265,000 bpd

● Storage Capacity: 2 million barrels

● Oil Produced to Date: Over 270 million barrels
● Original Resource Base: 600 million barrels

Prosperity (Payara)
● First Oil: November 2023
● Oil Production Capacity: ~265,000 bpd
● Storage Capacity: 2 million barrels
● Oil Produced to Date: Over 136 million barrels
● Original Resource Base: 600 million barrels

ONE GUYANA (Yellowtail)
● First Oil: August 2025
● Oil Production Capacity: 250,000 bpd
● Storage Capacity: 2 million barrels
● Original Resource Base: 925 million barrels

Upcoming projects
Two more FPSO‑based developments, namely Uaru and Whiptail, have already been approved and are slated to begin production between 2026 and 2028, each with a design capacity of 250,000 bpd of oil and equipped with approximately 2 million barrels of storage capacity. These will further expand Guyana’s offshore oil production and the generation of revenue for the country’s people.