CNOOC Ltd and 80883 has announced that Yellowtail Project has commenced production safely ahead of schedule.
The Yellowtail Project is located in the Stabroek Block offshore Guyana, with water depth of 1600 - 2000 m. The main production facilities include one floating production, storage and offloading (FPSO) and one subsea production system, with 26 production wells and 25 injection wells planned to be commissioned. This FPSO is the largest FPSO on the Stabroek Block with a storage capacity of 2 million bbls.
The Liza Phase 1, Liza Phase 2 and Payara Project in Guyana’s Stabroek Block have commenced production, with the block currently producing approximately 650 000 bpd of crude oil. The Yellowtail Project has a production capacity of 250 000 bpd, which will increase the installed production capacity of Stabroek Block to 900 000 bpd of crude oil.
CNOOC Petroleum Guyana Ltd, a wholly owned subsidiary of CNOOC Ltd, holds 25% interest in the Stabroek Block. ExxonMobil Guyana Ltd is operator and holds 45% interest, and Hess Guyana Exploration Ltd. holds 30% interest.