Exxon Mobil to Install Fourth Floating Oil Production Facility in Guyana

A consortium led by U.S. Exxon Mobil is gearing up to install its fourth floating oil production facility in Guyana, as confirmed by the country’s maritime regulator in a recent notice. The floating production storage and offloading (FPSO) facility, named ‘One Guyana,’ was constructed by SBM Offshore and has a capacity of 250,000 barrels per day. Departing from Singapore in mid-February, the vessel is set to significantly enhance the consortium’s output capacity to approximately 940,000 bpd by the end of this year.

In 2024, the group achieved an average production of 616,000 bpd following upgrades at two of its three operational facilities. With the imminent arrival of two more vessels in Guyana over the next two years, the consortium is poised to further strengthen its presence in the region.

The installation of ‘One Guyana’ will enable the Exxon-led consortium, which holds exclusive control over all production activities in Guyana, to exploit the potential of the Yellowtail and Redtail fields within its extensive Stabroek block. This block has yielded over 11 billion barrels of recoverable oil and gas resources, making it a crucial asset for the consortium’s operations.

While Exxon Mobil has not yet responded to requests for comments, the maritime regulator has confirmed that the installation process is on track to be completed by the end of the year. This development marks a significant milestone in Exxon’s ongoing efforts to maximize oil production in Guyana.

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(Source: Reuters)