ExxonMobil has commenced oil production from its fourth offshore project in Guyana, the Yellowtail field, part of the prolific Stabroek Block. The project came online four months ahead of schedule and below budget, adding approximately 250,000 barrels per day (bpd) to Guyana's installed capacity, which now totals around 900,000 bpd. ExxonMobil aims to increase production to 1.7 million bpd by 2030 through eight projects in the country. This expansion positions Guyana as South America's second-largest oil producer, with output potentially exceeding 2 million bpd by 2030. In parallel, ExxonMobil is exploring opportunities to replicate this success in Trinidad and Tobago, with plans to conduct 3D seismic surveys within six months and potentially drill two exploration wells. The Trinidad Energy Minister announced that ExxonMobil anticipates an investment of $21.7 billion if reserves are confirmed in the region.
Trinidad Energy Minister announces Exxon plans to drill two exploration wells, with a total investment of $21.7 billion anticipated if reserves are confirmed.
Exxon Mobil VP: 3D Seismic Off Trinidad & Tobago In 6 Months, Possible Well Drilling To Follow
ExxonMobil’s Vice President of Global Exploration states there is significant potential to replicate Guyana’s oil and gas success in Trinidad and Tobago.