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GEORGETOWN, April 15 (Reuters) – A consortium led by U.S. Exxon Mobil (XOM.N) is about to begin the installation of its fourth floating oil production facility in Guyana, the South American country’s maritime regulator said in a notice on Tuesday.
The floating production storage and offloading (FPSO) facility ‘One Guyana,’ built by SBM Offshore (SBMO.AS) with a 250,000 barrel-per-day capacity, departed from Singapore in mid-February.
Once installed, the vessel will allow the consortium to boost output capacity to some 940,000 bpd later this year. The group produced an average of 616,000 bpd in 2024 after upgrades at two of its three operational facilities. Two more vessels are expected to arrive in Guyana in the coming two years.
One Guyana will allow the Exxon-led consortium, which controls all production in the country, to develop the Yellowtail and Redtail fields, which are part of its massive Stabroek block, where more than 11 billion barrels of recoverable oil and gas have been found.
Exxon did not immediately reply to a request for comment.
The installation is scheduled to conclude by the end of the year, the maritime regulator added.
Reporting by Kemol King, writing by Marianna Parraga; additional reporting by Sheila Dang
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