SBM Offshore Wins Exxon Mobil Contracts for Major Offshore Project

SBM Offshore will develop, lease and operate Exxon Mobil’s ONE GUYANA FPSO for the $10 billion Yellowtail project offshore Guyana.

Hart Energy Staff

Esso Exploration and Production Guyana Ltd. (EEPGL), an affiliate of Exxon Mobil Corp., awarded contracts to SBM Offshore for the Yellowtail development project located in the Stabroek Block in Guyana, according to a press release from SBM Offshore on April 5.

The Yellowtail development is Exxon Mobil’s fourth, and largest, project within the Stabroek Block offshore Guyana. On April 4, Exxon Mobil announced it had made a final investment decision (FID) for the $10 billion project, which will include six drill centers and up to 26 production and 25 injection wells.

EEPGL is the operator and holds a 45% interest in the Stabroek Block, Hess Guyana Exploration Ltd. holds a 30% interest and CNOOC Petroleum Guyana Ltd. holds a 25% interest. Yellowtail is expected to produce approximately 250,000 bbl/d of oil starting in 2025.

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