Even though the Environmental Protection Agency (EPA) is yet to state its position on the granting of the environmental permit for ExxonMobil’s Yellow-tail development project, the Government is forging ahead with preparations for the offshore development.
In a January 06 notice published on the Ministry of Natural Resources website, the government invited bids for consultancy services for the review and evaluation of the Field Development Plan (FDP) for the Yellowtail development.
The Yellowtail project is ExxonMobil and partners’, fourth development in the Stabroek Block and is considered the largest undertaking since Guyana became an oil-producing nation. As part of the Yellowtail Project, ExxonMobil plans to drill between 40 and 67 wells for the 20-year duration of the investment. It is intended to be the largest of the four developments with over 250,000 barrels of oil per day targeted once production commences. Based on the schedule, once approval is granted, engineering commences in 2022 and production in the latter part of 2025.