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“[The] company will continue working on the operation of toll roads and fibre optics. These
structural financing initiatives for the energy operations fall outside the scope of the NOC’s
transition strategy, such as an equity issuance core business. But if Ecopetrol is able to gain a
and/or the execution of medium and long-term foothold in these areas, it will be “years ahead”
debt transactions under favourable market con- of other companies with respect to diversifying
ditions,” it said. its portfolio, the company’s CEO Felipe Bayon
ISA is involved in electricity transmission, said earlier this year.
GUYANA
ExxonMobil aims to submit
Yellowtail FDP in October
EXXONMOBIL Guyana, a subsidiary of by 2027, he stated. “[We] remain on course to
US-based ExxonMobil, will submit a field devel- deliver six or seven projects in the 2027 time-
opment plan (FDP) for Yellowtail, its fourth frame,” he noted. “So really, by the time you get
development at the Stabroek block offshore to five or six projects, the [production] capacity
Guyana, early in the fourth quarter of 2021. will have reached somewhere around 1mn bar-
According to Alistair Routledge, the presi- rels per day [bpd].”
dent of ExxonMobil Guyana, the company and This schedule “will catapult Guyana to quite
its partners are planning to turn the FDP in to a significant level of oil production,” he added.
Guyana’s government in October. This deadline Routledge did not say which sections of the
will allow the group to make a final investment block were the most promising after Yellowtail.
decision (FID) on the Yellowtail project by the Hess, a minority investor in Stabroek, indicated
second quarter of 2022, he said at an industry recently that it expects the group to focus on the
conference in Aberdeen last week. Uaru-Mako complex and the Longtail field.
“We plan to submit the field development ExxonMobil is serving as the operator of the
plan to the government by October of this year Stabroek project, with Hess and China National
with the aim to get a final investment decision Offshore Oil Corp. (CNOOC) as non-operating
[FID], probably by the end of the second quar- partners. The group has already made 20 finds
ter of next year,” Routledge stated. “That will be at the block, which is estimated to contain more
project number four.” than 9bn barrels of oil equivalent (boe).
He went on to say that ExxonMobil Guyana Stabroek began production in December
and its partners were working to decide which 2019, when the partners began using the Liza
areas of Stabroek to target next. “Project five is Destiny, a floating production, storage and
coming up close behind that, and indeed, six off-loading (FPSO) vessel, to extract oil from
and seven we have [in the] line of sight too,” he Liza-1. They will use a second FPSO to bring
was quoted as saying by OilNOW.gy. Liza-2 on stream in 2022 and will then install
The partners are hoping to bring as many a third vessel at Payara to begin production in
as six or seven sections of Stabroek on stream 2024. Yellowtail is due to follow suit in 2025.
Stabroek holds at least 9bn boe in recoverable resources (Image: ExxonMobil)
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