CNOOC Limited Initiates Production in Yellowtail Project

Author: Logan Wright Updated: 08-08-2025 10:17 AM

CNOOC Limited Launches Yellowtail Project Production

CNOOC Limited, a prominent player in the energy sector, has recently announced an exciting development. The Yellowtail Project has officially commenced production, achieving this milestone ahead of schedule.

Overview of the Yellowtail Project

The Yellowtail Project is strategically located in the Stabroek Block, characterized by challenging water depths ranging from 1,600 to 2,000 meters. The project features advanced production facilities, including a floating production, storage, and offloading unit (FPSO) along with a sophisticated subsea production system. This infrastructure includes 26 production wells and 25 injection wells, showcasing a significant commitment to maximizing production efficiency. Notably, this FPSO boasts the largest storage capacity within the Stabroek Block, capable of holding up to 2 million barrels of crude oil.

Production Capacity and Impact

In addition to the Yellowtail Project, the neighboring Liza Phase 1, Liza Phase 2, and Payara Project have also contributed to an impressive production output. Currently, the Stabroek Block is yielding approximately 650,000 barrels of crude oil daily. The Yellowtail Project is set to enhance this capacity significantly, adding an additional 250,000 barrels per day, thereby boosting the total installed production capacity of the Stabroek Block to an impressive 900,000 barrels per day.

CNOOC's Strategic Stake

CNOOC Petroleum Guyana Limited, a wholly owned subsidiary of CNOOC Limited, holds a 25% interest in the Stabroek Block. ExxonMobil Guyana Limited operates the project and maintains a 45% stake, while Hess Guyana Exploration Ltd. holds the remaining 30% interest. This collaborative venture signifies a robust partnership among industry leaders that is set to drive further growth in the region.

The Future of CNOOC Limited

As CNOOC Limited continues to expand its operational capabilities, the successful launch of the Yellowtail Project reflects the company's commitment to sustainable growth and innovation in the energy sector. By actively engaging in the development of the Stabroek Block, CNOOC is poised to become an even more significant contributor to the global energy landscape.

Frequently Asked Questions

What is the Yellowtail Project?

The Yellowtail Project is a significant oil production initiative launched by CNOOC Limited located in the Stabroek Block.

How much crude oil can the Yellowtail Project produce?

The Yellowtail Project has a production capacity of 250,000 barrels of crude oil per day.

What percentage of the Stabroek Block does CNOOC Limited own?

CNOOC Limited, through its subsidiary CNOOC Petroleum Guyana Limited, holds a 25% interest in the Stabroek Block.

Who are the other partners in the Stabroek Block?

ExxonMobil Guyana Limited holds a 45% interest and operates the project, while Hess Guyana Exploration Ltd. holds the remaining 30% interest.

What impact does the Yellowtail Project have on overall oil production?

The Yellowtail Project is expected to increase the total installed production capacity of the Stabroek Block to 900,000 barrels of crude oil per day.

About The Author

Dedicated Author and financial expert Logan Wright here, 29 years old. After earning an economics degree, I spent a number of years working in different financial industries. My great passion is enabling everyone, from any background or experience level, to understand and be literate in financial matters.

My books and writings are centered on simplifying difficult financial ideas into doable, understandable guidance. Whether it's retirement planning, investing, or budgeting, I want to arm readers with the information they need to make wise financial choices and realize their financial objectives.

Apart from writing, I also frequently post to financial blogs and organize webinars and workshops targeted at enlightening participants about personal finance. Always, my strategy is to offer concise, doable advice that can truly improve people's lives.

Away from work, I like to read, travel, and sample new foods. My goal is to infuse everything I do with the balance that I think is essential to both financial and personal well-being. By my profession, I want to encourage and enable people to confidently and clearly take charge of their financial futures.

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