Exxon Pushes Guyana Toward 1.7 Million Bpd By 2030

Exxon delivered another update from Guyana after saying the Errea Wittu floating production vessel for its Uaru project is nearly complete and expected to depart Singapore soon. Once Uaru starts up, it is expected to add about 250,000 barrels per day of capacity, giving Exxon another sizeable step forward in a region that has already become one of the company’s most important growth areas. The update lands with some real significance, given how Guyana is no longer just another offshore asset in Exxon’s portfolio. It has become a central part of the company’s long-term production and one of the major assets driving future growth.

This hits different when you look at the scale of what Exxon already has running in Guyana. Yellowtail, Exxon’s fourth Guyana development and the project before Uaru, began production in 2025 and now produces about 263,000 barrels per day, helping lift total Guyana output to 916,000 barrels per day as of January. The company has said total production capacity from the combined developments is expected to reach about 1.7 million barrels per day by 2030.

There is also a near-term payoff here that suggests Exxon may not have to wait nearly as long to recover project costs as originally thought. Exxon said higher crude prices are now expected to let it recover up to $5 billion in project costs in Guyana this year instead of 2027. The barrels in the future are nice, but the faster cost recovery is what the market sees now.

Exxon also has more coming behind Uaru. Whiptail, the company’s next planned Guyana offshore development after Uaru, is targeted to start by the end of 2027, and Exxon is also trying to bring Hammerhead, its seventh approved project in the Stabroek Block, online in 2028, a year earlier than previously planned. That gives Exxon a Guyana position that is already large, still expanding, and becoming more valuable as new projects move closer to production.

Disclaimer: This content is for informational and entertainment purposes only and does not constitute financial or investment advice. The information provided may be outdated or contain inaccuracies. Always conduct your own due diligence and consult a licensed financial advisor before making investment decisions. Investing involves risk, including the potential loss of principal. Unless explicitly stated otherwise, neither Equiscreen, LLC nor its beneficial owners hold any financial interest in the companies mentioned in our articles, and we do not receive compensation for including them. Equiscreen, LLC and its beneficial owners may buy or sell securities of any company referenced in our content at any time and without prior notice, and nothing published by Equiscreen, LLC should be interpreted as a recommendation to buy, sell, or hold any security. Any paid content or income-related materials will be clearly identified as “Sponsored” or “Advertorial,” and corresponding income disclosures can be found at the bottom of the page. For additional information, please contact [email protected].

Top Gainers

Top Losers

U.S. Commodities

2234 N Federal Hwy # 1022
Boca Raton, FL 33431

(561) 264-5726