ExxonMobil has revealed its investment decision for the Yellowtail development offshore Guyana after receiving government and regulatory approvals.
ExxonMobil’s fourth, and largest, project in the Stabroek Block is expected to produce approximately 250,000 barrels of oil per day 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.
Yellowtail production from the ONE GUYANA floating production storage and offloading (FPSO) vessel will develop an estimated resource of more than 900 million barrels of oil. The $10 billion project will include six drill centers 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.
ExxonMobil affiliate Esso Exploration and Production Guyana is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration holds 30 percent interest and CNOOC Petroleum Guyana holds 25 percent interest.