Core Viewpoint - ExxonMobil has commenced production at the Yellowtail oil field in the Stabroek block offshore Guyana, increasing the country's oil production capacity to 900,000 barrels per day, with expectations to reach 1.7 million barrels per day by 2030 across eight development projects [1] Group 1: Production Details - The Yellowtail oil field features the largest Floating Production Storage and Offloading (FPSO) unit in the Stabroek block, with an initial average production of 250,000 barrels per day and a storage capacity of 2 million barrels [1] - The commencement of Yellowtail production signifies ExxonMobil's ongoing investment in the high-yield oil reserves of the Stabroek block [1] Group 2: Stakeholder Information - ExxonMobil holds a 45% stake as the operator of the Stabroek block, while China National Offshore Oil Corporation (CNOOC) owns the remaining 25% [1] - The offshore oil fields in Guyana have become high-yield assets for partners, with potential for further production increases and the generation of billions of dollars in revenue [1]

Group 1 - The core point of the article is that the project for the development of the Weizhou 5-3 oil field in the northern part of the South China Sea is set to officially commence production on June 6, 2025, through a collaboration between Wisdom Oil Investment Co., Ltd. and China National Offshore Oil Corporation (CNOOC) [1] - Wisdom Oil holds a 49% stake in the project, while CNOOC owns 51% [1] - The project plans to deploy a total of 10 development wells, which include 7 production wells, 2 water injection wells, and 1 gas injection well [1] Group 2 - The project will involve leasing an installation wellhead platform and constructing a mixed transmission subsea pipeline and subsea cable [1] - Adaptive modifications will be made to the platform to support the operations [1] - The completion of drilling and well completion for all 10 development wells is expected by 2026, with a peak production target of approximately 10,000 barrels of oil equivalent per day anticipated for that year [1]