Wedoany.com Report-Aug. 11, SBM Offshore, based in the Netherlands, has launched its new floating production, storage, and offloading (FPSO) vessel, One Guyana, which has begun operations to support ExxonMobil’s fourth oil project in the Stabroek block, offshore Guyana.

On August 9, 2025, ExxonMobil announced the production start-up of the FPSO One Guyana. This marks the fourth FPSO deployed for Guyana, raising the country’s total oil production capacity to over 900,000 barrels per day. The vessel arrived from Singapore on April 15, 2025, and reached its mooring location in May.

One Guyana is dedicated to the Yellowtail development, which was approved in April 2022. This is ExxonMobil’s largest project in the country to date. The development includes six drill centers and up to 26 production and 25 injection wells. Initial average daily production is expected to be 250,000 barrels. The FPSO also has a storage capacity of 2 million barrels.

The project was completed four months ahead of schedule. One Guyana now operates alongside the Liza Destiny, Liza Unity, and Prosperity FPSOs in the Stabroek block. The oil produced from this new FPSO will be marketed as Golden Arrowhead crude. ExxonMobil aims to reach a total production capacity of 1.7 million barrels of oil equivalent per day from eight projects by 2030.

Dan Ammann, President of ExxonMobil Upstream Company, stated: “Yellowtail’s ahead-of-schedule startup is a significant milestone for ExxonMobil and the people of Guyana. With Guyanese making up more than 67% of the country’s oil-and-gas workforce and over 2,000 local businesses engaged, this project reflects our deepening roots in the country and our shared commitment to long-term, inclusive growth.”

In the past five years, ExxonMobil has launched four large-scale offshore projects under budget and ahead of schedule. The company is also preparing four more projects to come online before the end of the decade.

The Stabroek block is operated by ExxonMobil Guyana, which holds a 45% stake. Hess Guyana Exploration, now a part of Chevron, owns 30%, while CNOOC Petroleum holds the remaining 25%.

Ammann added: “Thanks to the hard work and dedication of our team, we achieved startup four months ahead of schedule and under budget, making this our fourth FPSO online just 10 years after discovery.”

Looking ahead, ExxonMobil plans to deploy six FPSOs with a combined capacity of over 1.2 million barrels per day by the end of 2027. The company has indicated that up to ten FPSOs may be used to fully develop the estimated 11 billion barrels of oil equivalent discovered in the Stabroek block.