Yellowtail Project News Today

A new provision included in ExxonMobil’s Yellowtail and Uaru Permits, for the fourth and fifth projects respectively, allows for a capping stack to be on standby in the event of a well blowout during oil production activities.

Chief Operating Officer (COO) for Hess Corporation, Greg Hill recently told shareholders that Guyana’s fourth oil project at the Yellowtail field in the Stabroek Block is running way ahead of schedule.

On November 9 2022, the Environmental Protection Agency (EPA) issued its fourth Permit to Esso Exploration and Production Guyana Limited (EEPGL) - ExxonMobil Guyana- to conduct production activities at the Yellowtail development.

It is now more than three years since a British firm, IHS Markit, is yet to complete an audit of US$1.6B in expenses for the oil-rich Stabroek Block. Those costs were incurred during the period 1999 to 2017 by ExxonMobil Corporation’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL).

Guyana’s government has granted permission for U.S. supermajor ExxonMobil to develop a fourth offshore oil and gas field, and the company says it has made a final investment decision on the $10 billion project