One Guyana FPSO Arrives, Signaling Major Boost in Oil Production
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Guyana has reached a significant milestone in its burgeoning oil industry with the arrival of the One Guyana Floating Production, Storage, and Offloading (FPSO) vessel. Constructed by SBM Offshore, this state-of-the-art facility is poised to substantially enhance the nation’s oil production capacity.
The One Guyana FPSO is set to operate within the Yellowtail development in the prolific Stabroek Block. With an initial production capacity of 250,000 barrels per day and storage for approximately two million barrels, the vessel will elevate Guyana’s total daily oil production capacity to around 900,000 barrels once operations commence later this year. Read more at News Room Guyana.
This development marks the fourth FPSO to be deployed in Guyanese waters, joining the ranks of the Liza Destiny, Liza Unity, and Prosperity vessels. The ExxonMobil-led consortium, which includes Hess and CNOOC, continues to spearhead these advancements, reinforcing Guyana’s position as a rising energy powerhouse in the region.
To celebrate this achievement, a street festival is scheduled for May 3. The festival will highlight the benefits of the Yellowtail project to Guyana, including the growth of local content and increased national revenues.
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