Exxon’s 4th oil ship to set sail to Guyana next year

Feb 12, 2024 News

The fourth FPSO, ‘One Guyana’ will arrive next year

Kaieteur News – In keeping with its production target of over 1.2 million barrels of oil per day by 2027, Guyana will usher in a fourth Floating, Production, Storage and Offloading (FPSO) vessel by next year.

This is according to President of ExxonMobil Guyana Limited (EMGL), Alistair Routledge. He was at the time presenting an update on the Yellowtail project at the company’s first press conferences of the year last week when he made the announcement.

Routledge said, “The plan basis is around the end of first quarter next year the FPSO would sail off from Singapore to Guyana. As always the team will challenge themselves to do better but that’s the plan basis.”

Presently, he reported that the hull is fully constructed with the first module lifted onto the topsides. The vessel has already come out of dry dock while the other modules for the top sides of the FPSO are being finalized and added on. The remainder of the year will then be focused on integrating the cables, pipe structures and other technical works to complete the vessel.

Routledge was reluctant to say whether the work was ahead of schedule or on target given that it was still during the “critical phases.” In fact, he explained that Guyana’s third FPSO, currently producing over 200,000 barrels of oil per day, was delayed by about one month, following an incident during the construction phase, hence his hesitance to pronounce on the delivery schedule.

The Yellowtail project will be operated by the ‘One Guyana’ FPSO, designed by Dutch shipbuilder, SBM Offshore, to produce 250,000 barrels of oil per day (bpd).

Kaieteur News previously reported that the project will develop approximately 925 million barrels offshore by drilling approximately 45 to 67 development wells (including production, water injection, and gas re-injection wells).

The US$10B project received government’s blessings on April 1, 2023.

Guyana is presently producing more than 600,000 bpd in the Stabroek Block from the three operational projects, Liza One, Liza Two and Payara. Liza Phase 1 produces up to 160,000 barrels, Liza Phase 2 up to 250,000 barrels, and Payara up to 230,000 barrels – daily.

Yellowtail will increase the country’s daily oil production capacity to about 900,000 barrels per day by 2025.

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ExxonMobil, FPSO, oil, One Guyana, Yellowtail

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