Recently, ExxonMobil – one of the world’s largest publicly traded international oil and gas companies – announced its new oil discovery at the Yellowtail- 1 well offshore Guyana.
The recent discovery marks the 13th on the block, where ExxonMobil is evaluating its potential as a development hub.
Having previously announced there is potential for at least five floating productions on the Stabroek Block producing more than 750,000 barrels of oil per day by 2025, development is on track to begin by the first quarter of 2020 and is expected to produce up to 120,000 barrels of oil per day.
We are looking forward to seeing more updates on this new discovery.