ExxonMobil and its partners have produced one billion barrels of oil from Guyana’s Stabroek block, less than seven years after production began in December 2019.
The company announced the milestone on September 28, 2026. Production started at the Liza field less than five years after discovery, with operations since expanding to four offshore developments.
These developments are served by the Liza Destiny, Liza Unity, Prosperity and ONE GUYANA floating production, storage and offloading (FPSO) vessels. Their combined installed capacity now exceeds 900,000 barrels per day, ExxonMobil said.
The company estimates the block’s resource base at just under 11 billion oil-equivalent barrels and plans up to eight offshore developments by 2030. It also credited Guyanese employees, contractors and suppliers for their role in developing the industry.
Further production is expected from Uaru, which is scheduled to start up by the end of 2026. Construction is underway on Whiptail and Hammerhead, the sixth and seventh approved projects. ExxonMobil is targeting first production from Whiptail in 2027, followed by Hammerhead in 2029.