Days after ExxonMobil and its partners received approval to move ahead with its US$10B Yellowtail project offshore Guyana, the company has submitted a proposal for its fifth project on the Stabroek Block. This was revealed by the President of the company’s local office, Alistair Routledge.
After extensive reviews, the Government and ExxonMobil’s subsidiary - Esso Exploration and Production Guyana Limited (EEPGL) signed Petroleum Production License (PPL) for the Yellowtail offshore development on April 1.
Days later, the company’s President Alistair Routledge disclosed that it has submitted its fifth plan - Urau + (pronounced warru- plus) for environmental approval.
"Even as we made this final investment decision for Yellowtail, our team here in Guyana submitted an application for environmental authorization of the fifth development in the Stabroek Block Uaru+. This reflects our commitment to steadily and of course, responsibly, develop the current resources of more than 10 million oil-equivalent barrels," Mr Routledge said.
Oil was discovered at the Uaru-1 well in January 2020 and at the Uaru-2 Well in April 2021.
To date, the Yellowtail project pegged at US$10B, is the largest investment in the Stabroek Block.
Routledge disclosed that soon, the company will be awarding a contract for a new shore base on the Demerara River.
"we will soon award a contract for a project shore base that will support Yellowtail and future projects enabling increased fabrication and load-out activities in Guyana. This is expected to generate more jobs and business opportunities for Guyanese as providing a foundation for a larger port facility on the Demerara River."
Yellowtail production from the ONE GUYANA floating production storage and offloading (FPSO) vessel will develop an estimated resource of more than 900 million barrels of oil.
There will be six drill centres and up to 26 production and 25 injection wells.