CNOOC Limited has announced the commencement of production at the Yellowtail Project, located in the Stabroek Block offshore Guyana. The project, which began ahead of schedule, features a floating production, storage, and offloading (FPSO) unit and a subsea production system. It includes 26 production wells and 25 injection wells, with an FPSO capable of storing 2 million barrels. The Yellowtail Project's production capacity is 250,000 barrels per day, contributing to the Stabroek Block's increased total capacity of 900,000 barrels per day. CNOOC Petroleum Guyana Limited, a subsidiary of CNOOC Limited, holds a 25% interest in the block, with ExxonMobil Guyana Limited operating and holding a 45% interest, and Hess Guyana Exploration Ltd. holding 30%.
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