Latest update January 7th, 2025 4:10 AM
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Installation activities for Exxon’s 4th oil project to be completed in June
Kaieteur News- ExxonMobil Guyana Limited (EMGL) is presently conducting installation activities in the Yellowtail field within the Stabroek Block to prepare for the start-up of oil production later this year.
Yellowtail is Exxon’s fourth project in the Stabroek Block. The Floating Production Storage and Offloading (FPSO) vessel to operate the project ‘One Guyana’ will be the largest in Guyana to date.
The fourth FPSO, ‘One Guyana’ is being constructed by Dutch shipbuilder, SBM Offshore (Installation activities for Exxon’s 4th oil project)
The vessel was designed to produce 250,000 barrels of oil per day (bpd) compared with 220,000 bpd at the Payara project, operated by the Prosperity FPSO.
According to a Notice by the Maritime Administration Department (MARAD), the installation exercise is scheduled to conclude on June 15, 2025.
On Sunday, President of EMGL, Alistair Routledge in an interview with Chief Executive Officer of the Guyana Energy Conference, Kiana Wilburg, said the company is looking forward to the arrival of the vessel to add to its already magnificent line-up of assets.
“We have a very strong production platform to build upon. We have the three producing assets, Liza Phase One, Phase Two and Payara…in 2025 we are looking forward to the arrival of the Yellowtail FPSO which is named One Guyana,” Routledge said.
He explained that the FPSO is expected to arrive in Guyana in the second quarter of this year with hook up and commissioning for start-up slated for the fourth quarter of this year.
According to him, this marks “another exciting year on the project execution and production fronts for our operations in the Stabroek Block.”
Presently, Exxon is producing over 640,000 bpd from three projects. To date, the operator has been granted approval for six deep-water developments in the Stabroek Block. The company submitted an application to the Environmental Protection Agency (EPA) last year for a seventh project, Hammerhead.
There are already talks of an eight project on the horizon, Longtail. Exxon has revealed plans to increase Guyana’s daily production to 1.7 million barrels daily by 2030.
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). Production will continue for 20 years.
The US$10B project received government’s blessings on April 1, 2023.
In the meantime, two other projects, Uaru and Whiptail, the fifth and sixth projects respectively, have also been sanctioned by the government. These developments are being designed to each produce 250,000 bpd and are likely to come on stream by 2026 and 2027 respectively.
(Installation activities for Exxon’s 4th oil project to be completed in June)
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