Street festival to mark arrival of fourth oil production ship, benefits of Yellowtail project

Last Updated on Tuesday, 15 April 2025, 21:16 by Writer

ExxonMobil Guyana on Tuesday announced that a street festival would be held on May 3 to celebrate the arrival of the floating production storage and offloading (FPSO) vessel, One Guyana, in the Stabroek Block and would push Guyana closer to producing 1 million barrels per day.

The company said the festival would highlight the benefits of the Yellowtail project to Guyana – growing local content and increasing revenues to the nation. “The Yellowtail Local Street Festival will showcase Guyana’s talent, flavours and creativity, a free kids’ zone, and entertainment highlighting the best of Guyanese culture,” the oil major added.

Minister of Natural Resources, Vickram Bharrat said FPSO One Guyana would begin production during the last quarter of 2025.

Production from the Yellowtail project is expected to commence later this year following completion of installation and well activities, bringing daily production capacity across ExxonMobil Guyana’s operations to approximately 900,000 barrels, the company added.

Constructed by SBM Offshore, the One Guyana FPSO will operate in the Yellowtail development, with an initial production capacity of 250,000 barrels per day, and an overall storage volume of around two million barrels.

Unofficial estimates are that Yellowtail contains at least 900 million barrels of oil.

ExxonMobil Guyana Production Manager Huzefa Ali was quoted in a company statement as saying, “The arrival of the ONE GUYANA FPSO symbolizes the unwavering collaboration between our team, the government and our industry partners. 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.”

In a separate statement, the Guyana government said the FPSO One Guyana marks a significant milestone in the advancement of offshore oil production and national development. The One Guyana FPSO is the fourth production vessel to arrive in Guyana, joining the Liza Destiny, Liza Unity, and Prosperity FPSOs. Those vessels currently produce a total of 650,000 barrels per day.

The government says it represents continued confidence in Guyana’s energy sector and the strength of the partnership between the government and co-venturers ExxonMobil, Hess, and CNOOC.

On the vessel’s arrival, the Minister of Natural Resources commented: “The arrival of the One Guyana FPSO is a powerful symbol of progress, not only in oil production but in the continued empowerment of our people through job creation, local business opportunities, and increased revenues that support development across Guyana.”

The ministry again reaffirmed its commitment to ensuring that the oil and gas sector continues to be developed transparently and sustainably for the benefit of all Guyanese.