Latest update February 20th, 2025 12:39 PM
Guyana’s 4th FPSO on its way for US$10B Yellowtail project- Exxon
Kaieteur News- A fourth Floating Production Storage and Offloading vessel (FPSO) to produce oil at the Yellowtail field in the Stabroek Block is on its way to Guyana.
The announcement was made by ExxonMobil’s Senior Vice President, Deepwater, Hunter Farris during the opening ceremony of the fourth installment of the Guyana Energy Conference on Tuesday.
The One Guyana FPSO, constructed by Dutch shipbuilder, SBM Offshore
This year’s conference is being hosted between February 18 and 21 at the Guyana Marriott Hotel, Kingston, Georgetown, under the theme ‘Connecting the Dots: Integrating the Future.’
In his address, Farris was proud to report to the highly foreign-populated conference room the role Guyanese have been playing in the construction of this vessel.
He said, “…three Guyanese companies Zeco, InFab and Guyana Oil and Gas Services performed critical fabrication services for building the new ‘One Guyana’ Production Storage vessel, which I’m very pleased to announce just left Singapore today on its way home to Guyana.”
Farris told delegates that the addition of more FPSOs in the future will help Exxon to achieve its target of 1.3M barrels per day by the end of 2030, meaning that 500 million barrels will be produced annually.
“With the addition of several more FPSOs, we expect by the end of the decade to be producing nearly 500M barrels of oil every year, with daily production of 1.3M barrels,” Exxon’s Senior Vice President said.
For context, since Guyana commenced oil production in December 2019, Exxon achieved 500M barrels of oil production in November 2024, a five-year period.
With the One Guyana FPSO now on its way to Guyana, daily production in the country will soon be increased to around 900 million barrels per day (bpd). The vessel was designed to produce 250,000 bpd, adding to the current daily production of 650,000 barrels being produced by the Liza One, Liza Two and Payara projects.
Kaieteur News understands that installation activities in the Yellowtail field to prepare for the start-up of oil production is currently ongoing and is expected to be completed by June.
It should be noted that the vessel will not commence daily production at 250,000 barrels but will gradually startup until the FPSO reaches nameplate capacity.
Earlier this year, President of ExxonMobil Guyana, Alistair Routledge said the company was eagerly awaiting the arrival of the vessel. He said, this marks “another exciting year on the project execution and production fronts for our operations in the Stabroek Block.”
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’s 4th FPSO on its way for US$10B Yellowtail project- Exxon)
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