ExxonMobil is aiming to submit the Field Development Plan (FDP) for its giant Yellowtail Development to authorities in Guyana by October of this year and will make a final investment decision on the 250,000 barrels per day project by the second quarter of 2022.
So says President of ExxonMobil Guyana, Alistair Routledge, who also pointed out that the company and its partners already have line of sight on several other projects at the 6.6 million acres Stabroek Block where it is operator.
“We plan to submit the field development plan to the Government by October of this year with the aim to get a final investment decision, probably by the end of the second quarter of next year,” Routledge told participants at the Aberdeen-Guyana Gateway last week. “That will be project number four. Project five is coming up close behind that and indeed, six and seven we have line of sight too.”
OilNOW understands that the Longtail-3 appraisal well has confirmed that there is a large aerial and vertical extent to the Longtail-1 discovery, making it a very large reservoir system and prime candidate in the queue for development. The second appraisal well in the area – Mako-2 – was also very significant since it showed the Uaru/Mako complex is between Yellowtail and Liza.
“So, we remain on course to deliver six or seven projects in the 2027 timeframe,” Routledge pointed out. “So, really by the time you get to five or six projects, the capacity will have reached somewhere around one million barrels per day, production which will catapult Guyana to quite a significant level of oil production…”
ExxonMobil has already submitted an application to the Environmental Protection Agency (EPA) in Guyana to undertake the Yellowtail Development.
According to the EPA, the proposed project will be implemented in multiple stages including wells drilling and completions; mobilization and installation of subsea equipment, umbilicals, risers, and flowlines (SURF); installation of a floating production, storage and offloading (FPSO) facility; production operations, offloading of crude and decommissioning, and use of support vessels and helicopters throughout the stages.
Yellowtail-1 encountered 292 feet of high-quality oil-bearing sandstone reservoir and was drilled to a depth of 18,445 feet in more than 6,000 feet of water. The identification of two additional high-quality reservoirs at the Yellowtail-2 well also further confirmed the extent of the reservoir system.