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ExxonMobil makes final investment decision on Yellowtail development

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Oilfield Technology,


ExxonMobil has made a final investment decision for the Yellowtail development offshore Guyana after receiving government and regulatory approvals.

The company’s fourth, and largest, project in the Stabroek Block is expected to produce approximately 250 000 bpd starting in 2025.

“Yellowtail’s development further demonstrates the successful partnership between ExxonMobil and Guyana, and helps provide the world with another reliable source of energy to meet future demand and ensure a secure energy transition,” said Liam Mallon, president of ExxonMobil Upstream Company. “We are working to maximize benefits for the people of Guyana and increase global supplies through safe and responsible development on an accelerated schedule.”

Yellowtail production from the ONE GUYANA FPSO vessel will develop an estimated resource of more than 900 million barrels of oil. The US$10 billion project will include six drill centres and up to 26 production and 25 injection wells.

ExxonMobil’s ongoing offshore exploration in Guyana has discovered a recoverable resource of more than 10 billion oil-equivalent barrels. The company anticipates up to 10 projects on the Stabroek Block to develop this resource.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/05042022/exxonmobil-makes-final-investment-decision-on-yellowtail-development/

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