UPDATE: CNOOC Limited has just announced that the Yellowtail Project has commenced production ahead of schedule, significantly impacting the oil landscape in the Stabroek Block, Guyana. This development, confirmed on August 8, 2025, marks a pivotal moment for the company and the region’s oil output.
The Yellowtail Project is set to enhance production capacity by 250,000 barrels per day, contributing to a staggering total output of 900,000 barrels per day from the Stabroek Block. This strategic move positions CNOOC Limited as a key player in the rapidly evolving oil industry, reflecting a robust response to global energy demands.
Located offshore at depths of 1,600 to 2,000 meters, the Yellowtail Project includes advanced facilities such as a floating production, storage, and offloading unit (FPSO) with a remarkable capacity of 2 million barrels. The project incorporates 26 production wells and 25 injection wells, showcasing cutting-edge technology in oil extraction.
CNOOC Petroleum Guyana Limited, a wholly owned subsidiary of CNOOC Limited, holds a 25% interest in this lucrative block, while ExxonMobil Guyana Limited operates the project with a 45% interest, and Hess Guyana Exploration Ltd. holds 30%. The collaboration among these industry giants underscores the significance of the Yellowtail Project in meeting both regional and global energy needs.
This announcement comes as the Stabroek Block continues to produce approximately 650,000 barrels of crude oil per day from other projects, including Liza Phase 1, Liza Phase 2, and the Payara Project. The timely launch of the Yellowtail Project is expected to bolster economic growth in Guyana while enhancing energy security in an increasingly volatile market.
As CNOOC Limited embarks on this new chapter, the company affirms its commitment to operational excellence and safety, ensuring that production begins without incident. The implications of this development extend beyond financial figures; they represent a transformative step for the region’s oil sector and local communities reliant on its growth.
Moving forward, industry analysts and stakeholders will closely monitor the project’s progress and its impact on global oil prices and energy policies. With demand for oil fluctuating and geopolitical tensions rising, the Yellowtail Project is poised to play a crucial role in shaping the future of energy production in the Caribbean.
Stay tuned for further updates on this developing story as CNOOC Limited continues to expand its footprint in the oil industry.
