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 Exxon seizes Yellowtail with fourth Guyana FID
December 23, 2021

Exxon seizes Yellowtail with fourth Guyana FID

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ExxonMobil has taken its fourth remaining funding determination (FID) in Guyana on the Yellowtail undertaking.

Yellowtail would be the largest on the Stabroek Block, with manufacturing of 250,000 barrels per day of oil beginning up in 2025.

The $10 billion undertaking will contain six drill centres, with as much as 26 manufacturing and 25 injection wells. The One Guyana floating manufacturing, storage and offloading (FPSO) vessel will develop a 900 million barrel of oil useful resource.

Exxon has discovered greater than 10 billion barrels of oil equal offshore Guyana. It plans to develop these sources by means of as much as 10 tasks on Stabroek.

“Yellowtail’s growth additional demonstrates the profitable partnership between ExxonMobil and Guyana, and helps present the world with one other dependable supply of vitality to satisfy future demand and guarantee a safe vitality transition,” mentioned Liam Mallon, president of ExxonMobil Upstream.

“We’re working to maximise advantages for the individuals of Guyana and enhance world provides by means of secure and accountable growth on an accelerated schedule.”

Exxon employs greater than 3,500 Guyanese staff, up greater than 50% since 2019. It has spent greater than $600 million regionally, on greater than 880 suppliers, since 2015.

Esso Exploration and Manufacturing Guyana is the operator of Stabroek with a forty five% stake. Hess Guyana Exploration has 30% and CNOOC Petroleum Guyana 25%.

Assuming Yellowtail begins on schedule, the 4 tasks shall be producing 800,000 bpd.

Stacking them up

Hess mentioned its share of prices for Yellowtail could be round $2.3bn. This 12 months, prices could be $210mn and they might peak at $585mn in 2024. Hess mentioned it anticipated six FPSOs to be producing on Stabroek by 2027.

SBM Offshore gained front-end engineering and design (FEED) work on the Yellowtail FPSO in November 2021. SBM plans to supply certainly one of its Fast4Ward hulls for the undertaking.

The vessel builder mentioned the FPSO would have 450 million cubic toes per day of gasoline therapy capability and water injection of 300,000 bpd. The FPSO will have the ability to maintain 2 million barrels of oil.

It is going to unfold moor the FPSO in 1,800 metres of water.

SBM has supplied the opposite three FPSOs: Liza Unity, Liza Future and Prosperity.

Exxon started producing on the 220,000 bpd Liza Section 2 undertaking in February this 12 months, bringing Stabroek to capability of 340,000 bpd.

The 220,000 bpd Prosperity FPSO left dry dock final month and moved to the jetty for topsides integration. The vessel shall be moored on the Payara area and will start producing in 2024.

Up to date at 3:27 pm with particulars of Hess’ plans. 

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