Investment plan

ExxonMobil unveils investment plan for oil project in Guyana

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 around 250,000 barrels of oil per day from 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. , chairman of ExxonMobil Upstream Company.

Yellowtail flounder production from the floating production, storage and offloading vessel (FPSO) ONE GUYANA will develop an estimated resource of over 900 million barrels of oil. The $10 billion project will include six drilling centers and up to 26 production wells and 25 injection wells.

ExxonMobil’s ongoing offshore exploration in Guyana has discovered a recoverable resource of over 10 billion barrels of oil equivalent. The company plans up to 10 projects on the Stabroek block to develop this resource.

Esso Exploration and Production Guyana, a subsidiary of ExxonMobil, is the operator and holds a 45% stake in the Stabroek block. Hess Guyana Exploration holds a 30% interest and CNOOC Petroleum Guyana holds a 25% interest.