Two workers aboard an offshore facility in Guyana. Image: ExxonMobil.
ExxonMobil says it and its co-venturers have produced the one billionth barrel of oil from Guyana’s Stabroek Block, reaching the cumulative milestone less than seven years after first production began in December 2019.
The company announced the milestone on September 28. Its statement did not identify a particular cargo or production day associated with the one billionth barrel, but said output from the block has now passed the cumulative threshold.
Production currently comes from four offshore developments supported by the Liza Destiny, Liza Unity, Prosperity and ONE GUYANA floating production, storage and offloading vessels. ExxonMobil said the four projects have combined installed capacity of more than 900,000 barrels per day.
Installed capacity is the designed production capability of the operating assets. It should not be read as a statement that output is maintained at that level every day.
What the milestone establishes
The one-billion-barrel figure refers to cumulative production from the Stabroek Block since first oil. It is not a statement of the amount of oil remaining, the volume exported during a single period, or the government’s share of production or revenue.
ExxonMobil described the block’s estimated resource base as just under 11 billion oil-equivalent barrels. That is a company estimate covering oil and gas resources and is separate from the one billion barrels already produced.
The milestone demonstrates the pace at which the block moved from first production to four operating developments. It also provides a new reference point for assessing future production data, additional project start-ups and the contribution of new floating production units.
Further projects are under development
ExxonMobil said Uaru is expected to start production by the end of 2026. The company also reported that construction is underway on Whiptail, which is targeted for start-up in 2027, and Hammerhead, which is expected to begin production in 2029.
Those dates remain company targets rather than confirmed completion dates. Actual start-up will depend on commissioning and project execution.
The company said it is planning for as many as eight offshore developments by 2030. The September 28 announcement did not provide a new production forecast for the entire block or a revised estimate of annual output.
What to watch next
The next material confirmations will include the start-up of Uaru, the commissioning progress of Whiptail and Hammerhead, and official production data showing how output changes as new projects enter service.
For Guyanese businesses, the continuing development programme also makes workforce participation, procurement and local-content performance important areas to monitor. The one-billion-barrel announcement acknowledges the role of Guyanese employees, contractors and suppliers, but does not publish new local-content figures.
Until more detailed production records are released, the supported conclusion is narrow: ExxonMobil reports that cumulative Stabroek Block production has reached one billion barrels, while four producing developments provide installed capacity above 900,000 barrels per day.
