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Exxon delighted as largest project set to kick off next year
…production target set at 250,000 barrels daily
Map showing the location of the Yellowtail project
Kaieteur News – ExxonMobil Guyana Limited (EMGL), the developer of the Stabroek Block is delighted as another deep-water development, its largest to date, is on course for startup in 2025.
Presently, Exxon has three projects producing oil. The Liza One, Liza Two and Payara projects are producing about 660,000 barrels per day (bpd) on average.
The fourth project, Yellowtail, will develop the Tilapia and Redtail reservoirs. It targets a daily production rate of 250,000 bpd, while the other developments were designed to produce up to 220,000 bpd.
At a recent media conference, President of EMGL, Alistair Routledge provided an update on the progress being made on the project. “That is on course for startup as planned by the end of 2025. In fact, the (Floating production Storage and Offloading vessel) FPSO is in the yard in Singapore.”
He explained that all of the modules have been fabricated and installed on the topsides of the FPSO. SBM Offshore, a Dutch shipbuilder was awarded the contract to supply the FPSO. Presently, the company is integrating all of the modules so that they are fully connected.
“From a controls point of view, electrical point of view and then of course fluids that flow between the different units and modules on the FPSO, we anticipate that work concluding around the end of this year,” Exxon’s Country Manager reported.
Exxon anticipates the vessel’s naming ceremony in January 2025, prior to it setting sail in the first quarter. The FPSO is expected to arrive in Guyana in the second quarter of 2025.
In the meantime, EMGL has been busy with subsea installation activities locally. According to Routledge, “The subsea installation activities have been ongoing, drilling the production development wells, so all of that is on course so that we will be able to bring everything together with an integrated installation campaign through the summer period of next year, so very much on schedule,” he said, adding that the company is “delighted to see that one continue to move forward on schedule.”
The commencement of oil production on the fourth FPSO would take Guyana closer to its target of producing 1.3 million barrels of oil by 2027.
In fact, two other projects which have also received the blessings of the government of Guyana (GoG) are also likely to startup in 2027.
The fifth project Uaru, as well as the Whiptail development- Exxon’s sixth project- will each develop 250,000 bpd.
Routledge revealed that the projects are on schedule; however, the teams are aiming for earlier startup dates.
“Both of those are slated for 2027 startup. The teams continue to work towards earlier dates of those, but good news that they are going to schedule. You recall those collective six projects bring the combined investment commitment in Guyana to some US$55B,” the Country Manager stated.
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