TechnipFMC Gets Notice to Proceed, Wins More Work at Exxon's Yellowtail Project Offshore Guyana
Oilfield services giant TechnipFMC has secured an additional contract and received notice to proceed from ExxonMobil for its Yellowtail development in the Stabroek Block offshore Guyana.
The newly announced, "significant" flexibles contract covers six risers that are qualified for high pressure and high temperature. For TechnipFMC, a “significant” contract is between $75 million and $250 million.
The company has also been given full notice to proceed with the previously announced contract for the subsea production system (SPS), following ExxonMobil’s final investment decision in April.
The initial award of the "large" contract was announced in November 2021. For TechnipFMC, a “large” contract is between $500 million and $1 billion.
TechnipFMC will provide project management, engineering, manufacturing and testing capabilities for the subsea production system, which includes 51 enhanced vertical deepwater trees (EVDT) and associated tooling, as well as 12 manifolds and associated controls and tie-in equipment.
Jonathan Landes, President, Subsea at TechnipFMC, commented: “We are thrilled that our partnership with the Stabroek Block operator continues to grow. We have an established presence in Guyana to accommodate the level of activity there and we’re committed to further developing local capabilities.”
According to the company, TechnipFMC currently employs 70 Guyanese, and expects to continue to hire and train additional local staff in support of these awards.
U.S. oil major ExxonMobil in April made a final investment for the Yellowtail. ExxonMobil said that the Yellowtail project would produce about 250,000 barrels of oil per day starting in 2025. The FPSO to be built for the project would be named ONE GUYANA.
This will be Guyana's fourth FPSO, and the fourth delivered by SBM Offshore, after Liza Destiny, Liza Unity, and the under-construction Prosperity.