Bayphase Ltd. wins contract to review FDP for Exxon’s US$9 billion Yellowtail project

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With the second-lowest bid totalling US$423,360, Bayphase Ltd. which is headquartered in the United Kingdom has successfully beaten more than 10 companies for the contract to review the Field Development Plan (FDP) for ExxonMobil’s fourth project in Guyana, Yellowtail.

This is not the first time Bayphase will be in charge of the FPD review for a major ExxonMobil project offshore the South American country. It had previously executed similar consultancy work for the Liza Phase 1, Liza Phase 2, and Payara Projects.

With respect to the Yellowtail Project, Bayphase is required to conduct an in-depth review of all supporting and reference documentation, along with the related environmental and social impact assessments (ESIA) submitted by the Licensees.

The government had said this in-depth review must include, at a minimum, an assessment of the strategy and the development model, as well as the criteria for the choices that have been made by the Licensees including cost-effectiveness, and potential alternatives; as well as the engineering, geological and geophysical interpretations, simulations, and estimations including recovery factor efficiency using natural gas injection and available natural gas for export.

Bayphase is also expected to examine the proposed project schedule, including tail end production and the well and reservoir management strategy, taking into consideration the government’s no flaring policy.

Further to this, Guyanese authorities want the UK firm to examine the associated financial models, economic analyses and cost estimates and reports towards ensuring financial optimization of oil and gas recovery profiles; the Health, Safety, Environment and Social (HSES) impacts and proposed mitigation; the decommissioning plan and budget; the natural gas utilization plan for the field and the overall risk management strategy as produced by the Licensees.

Authorities said too that they will expect the selected company to support the Natural Resources Ministry’s engagements and information exchanges with the Licensees and provide on-the-job training to the ministry and Sector Regulator during the FDP evaluation process.

Support for the drafting of the Yellowtail Petroleum Production License is also listed as part of the Scope of Work.

It is anticipated that the review process as well as the award of the licence for the project will be completed by the end of March 2022.

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