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 barrels of oil per day starting in 2025.
Yellowtail production from the One Guyana floating production storage and offloading (FPSO) vessel will develop an estimated resource of more than 900m barrels of oil. The $10bn 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 10bn 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 Limited is operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.