ExxonMobil’s Stabroek Block offshore Guyana surpassed 1 billion barrels of cumulative oil production, with the Uaru project targeted to start up later this year.

ExxonMobil reported that cumulative oil production from its operated Stabroek Block offshore Guyana has surpassed 1 billion barrels. Four floating production, storage and offloading vessels are in operation — Liza Destiny, Liza Unity, Prosperity and ONE GUYANA — with combined capacity above 900,000 barrels per day. The fifth project, Uaru, served by the FPSO Errea Wittu (built by MODEC), had not yet started up as of the report, with first oil expected in the fourth quarter of 2026. ExxonMobil holds 45% of the Stabroek Block alongside Hess and CNOOC.

What it means for U.S. companies

Guyana is the single largest source of new non-OPEC supply growth and a core profit engine for U.S. operators — ExxonMobil (45% of Stabroek) and, through its Hess acquisition, Chevron. Crossing 1 billion cumulative barrels, with four FPSOs running above 900,000 bbl/d and Uaru’s first oil expected in Q4 2026, continues a ramp-up that sustains demand for U.S.-linked FPSO, subsea and oilfield-service providers. It also reinforces the Atlantic-basin supply picture relevant to U.S. crude trade flows and to the competitive landscape U.S. shale and exporters operate in. For service and equipment firms, Guyana’s build-out remains one of the most reliable sources of work through 2030.

Related reading

Our oil, gas and energy practice page explains how we draft and review joint operating agreements, farmouts, drilling and gas sales contracts, and host government agreements for U.S. companies and investors. Our Africa–U.S. transactions page covers deal structuring, due diligence and cross-border compliance, including the U.S. Foreign Corrupt Practices Act. Before you sign, read 5 Mistakes That Sink Africa–U.S. Deals (and How to Avoid Them), and find every item of this week’s report in the Energy Intelligence Brief.

Sources: Offshore Magazine ↗