ExxonMobil has made a final investment decision (FID) for the Yellowtail oil production project offshore Guyana, the fourth project in the Stabroek Block, and plans to invest US$10bn to develop six drill centres and up to 26 production and 25 injection wells to tap its estimated resources of more than 900 mbl of oil. ExxonMobil plans to produce around 250,000 mb/d of oil starting in 2025.
The Stabroek Block’s hydrocarbon recoverable resource base is currently estimated at more than 10 Gboe, enough to support up to 10 projects. ExxonMobil plans to have four floating production storage and offloading (FPSO) vessels with a capacity of more than 800,000 bbl/d on the Stabroek Block by the end of 2025; the 220,000 bbl/d Prosperity FPSO (currently under construction) should be used for the Payara project and the fourth project, Yellowtail, has been submitted for government and regulatory approval. ExxonMobil owns a 45% stake in the Stabroek block (operator), in partnership with Hess Guyana (30%) and CNOOC (25%).