China National Offshore Oil Corporation (CNOOC) announced that the Yellowtail project in Guyana has started production ahead of schedule.

On August 8th, CNOOC announced that the Yellowtail project in Guyana has been put into production ahead of schedule. The Yellowtail project is located in the Stabroek block of Guyana, with water depths ranging from 1600 to 2100 meters. The main production facilities include one floating production storage and offloading unit and one subsea production system, with plans to produce from 26 production wells and inject water into 25 wells. The FPSO for this project is currently the largest in the Stabroek block, with a designed storage capacity of approximately 2 million barrels. The Liza Phase One, Liza Phase Two, and Payara projects in the Stabroek block have already been put into production, with the current average daily oil production in the block being around 650,000 barrels. The Yellowtail project has a production capacity of 250,000 barrels per day, and after its completion, the total production capacity in the Stabroek block will increase to 900,000 barrels per day.