Stabroek’s cumulative production reaches 1 billion barrels in less than 7 years
Key Facts
Exxon Mobil and its partners announced on September 28, 2026, that cumulative production from the offshore Stabroek block in Guyana had reached 1 billion barrels, less than 7 years after production began in December 2019. The figure represents the fields’ output since they began operating, while the company said first oil from the Liza field flowed less than 5 years after the Stabroek discovery. The milestone puts the development in the context of the pace of deepwater field development, rather than the daily production rate. In September, Exxon Mobil said installed production capacity across the four offshore projects had exceeded 900,000 barrels per day. Current production reported by Guyana’s Ministry of Natural Resources in February 2026 also exceeded 900,000 barrels per day, according to the ministry.
The Stabroek block averaged slightly less than 830,000 barrels per day in 2025, according to Guyana’s 2026 budget speech, with output varying among the four floating production vessels. That average compares with a level of more than 900,000 barrels per day reported by the Ministry of Natural Resources in February 2026, and the ministry’s description in August of production at about 900,000 barrels per day before first oil was expected from the Errea Wittu vessel. These figures vary according to the period and the reporting source, and installed capacity does not mean actual production reached the same level at all times. In August, the ministry said the fifth vessel had arrived in Guyana and was expected to begin production in the fourth quarter of 2026. It added that production was set to exceed 1 million barrels per day after first oil began flowing from the vessel.
The Stabroek block’s interests are divided among operator ExxonMobil Guyana, with 45%, Hess Guyana Exploration, with 30%, and China National Offshore Oil Corporation, with 25%, according to an Exxon Mobil statement. Reaching 1 billion barrels in cumulative production means activity has crossed a major threshold since production began, while the disclosed stakes divide ownership of the project between the operator and its two partners. The company had said first oil from Liza began flowing less than 5 years after the discovery, describing it as one of the sector’s fastest deepwater development schedules. The timeline announced by the company shows the project moving from discovery to production and then to cumulative output of 1 billion barrels in less than 7 years from the start of production. Installed capacity and actual production remain separate measures when describing the scale of operations.
The Uaru project is one of the next drivers of expansion at Stabroek. Exxon Mobil said the project is designed to develop an oil resource of more than 800 million barrels, with a plan covering up to 10 drilling centers and 44 production and injection wells. The project costs $12.7 billion, according to Guyana’s Ministry of Natural Resources, which said it targets more than 800 million barrels of recoverable oil. Exxon Mobil expects Uaru to start up by the end of 2026, targets startup of the Whiptail project in 2027, and expects Hammerhead to begin production in 2029. The company said in November 2025 that Uaru and Whiptail each target production of about 250,000 barrels per day at startup.
Exxon Mobil links its investment plans to its view of global oil demand, which it expects to reach about 105 million barrels per day in 2050, compared with slightly more than 100 million barrels per day in 2025. These are the company’s estimates for oil demand, not energy demand overall. In the stock market, Exxon Mobil shares closed at $187.25 on October 30, 2026. On supply, the Ministry of Natural Resources said in August that first oil from the Errea Wittu vessel was expected in the fourth quarter of 2026, linking its startup to production exceeding the 1 million-barrel-per-day threshold. The Uaru, Whiptail and Hammerhead timelines, according to Exxon Mobil, remain Guyana’s next expansion milestones.