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PROJECT PROFILE · FPSO

Yellowtail

The fourth Stabroek development, served by the ONE GUYANA FPSO

In production

Project Overview

Yellowtail is the fourth offshore development in the Stabroek Block and is operated by ExxonMobil Guyana Limited. Stabroek interests are ExxonMobil Guyana 45%, Hess Guyana 30% and CNOOC Petroleum Guyana 25%. The development achieved first oil through the ONE GUYANA FPSO on 8 August 2025.

FPSO Construction and Current Operations

ONE GUYANA uses the newbuild Fast4Ward MPF 3 hull and has design oil-processing capacity of 250,000 barrels per day and storage of approximately 2 million barrels. Shanghai Waigaoqiao Shipbuilding built the hull; SBM Offshore and McDermott jointly executed the EPC phase through a special-purpose company; QMW fabricated three topsides modules in Qingdao; and Seatrium completed module fabrication, installation, integration and commissioning support. SBM Offshore led installation and initial lease operations. ExxonMobil Guyana acquired the FPSO ahead of schedule in February 2026, while SBM Offshore continues operations and maintenance through 2035.

Key Milestones

  1. FPSO award

    SBM Offshore receives construction, installation and initial lease-and-operate scope.

  2. Construction completed and sailaway

    Hull, topsides and integration work are completed before the FPSO departs Singapore for Guyana.

  3. First oil

    The development starts production ahead of its original schedule.

  4. FPSO purchase completed

    ExxonMobil Guyana takes ownership while SBM Offshore continues O&M through 2035.

FPSO Construction and Execution Scope

Workstream Executing Party Scope Status
Overall FPSO delivery SBM Offshore Construction, installation and initial lease operations Completed
Joint EPC execution McDermott Project management, basic design, procurement, engineering, integration and commissioning Completed
Hull construction Shanghai Waigaoqiao Shipbuilding Fast4Ward MPF 3 hull Completed
Topsides modules QMW Fabrication of three topsides modules in Qingdao Completed
Modules and integration Seatrium Module fabrication, installation, integration and commissioning support Completed
Operations and maintenance SBM Offshore Continued O&M after the FPSO sale through 2035 Ongoing

Portfolio Navigation

Participants and roles

Key participants and their project roles.

  • United States

    ExxonMobil
    Operator

    Project operator and owner of the ONE GUYANA FPSO.

    Scope
    Ownership and governance
    Relationship start
    5 Apr 2022

  • Netherlands

    SBM Offshore
    EPCI contractor

    Construction and installation of the ONE GUYANA FPSO, together with up to two years of initial lease and operations services.

    Scope
    Offshore facilities and operations
    Relationship start
    5 Apr 2022
    Shipowner / lessor

    Continued operations and maintenance under an integrated model after the FPSO sale, extending to 2035.

    Scope
    Offshore facilities and operations
    Relationship start
    8 Aug 2025

  • China

    Shanghai Waigaoqiao Shipbuilding Co., Ltd.
    Hull builder

    Construction and delivery of the Fast4Ward MPF 3 hull used for FPSO ONE GUYANA.

    Scope
    Offshore facilities and operations
    Relationship start
    2020

  • United States

    McDermott International, Ltd.
    EPC contractor

    Joint EPC execution with SBM Offshore, including project management, basic design, procurement, engineering, integration and commissioning.

    Scope
    Offshore facilities and operations
    Relationship start
    18 Nov 2021

  • China

    Qingdao McDermott Wuchuan Offshore Engineering Company Ltd.
    Topsides builder

    Fabrication of three ONE GUYANA topsides modules at the QMW yard in Qingdao.

    Scope
    Offshore facilities and operations
    Relationship start
    2022

  • Singapore

    Seatrium Limited
    Integration assembler

    Topsides fabrication, installation and integration, with pre-commissioning and commissioning support in Singapore.

    Scope
    Offshore facilities and operations
    Relationship start
    2022