Environment agency reaches deal with Exxon for Yellowtail-1 well

After intense discussions with Guyana’s Environmental Protection Agency (EPA) on permits for exploratory works at its Yellowtail-1 Well in the offshore Stabroek Block, ExxonMobil’s subsidiary, EEPGL  was yesterday granted a permit after documented assurances that it will meet the insurance and other requirements stipulated by the EPA.

“After some extensive, but good faith negotiations, I am happy that the EPA was able to grant EEPGL its final permit for drilling the Yellowtail- 1 exploration well, while at the same time avoiding any costly delays in drilling of the well. This permit is a major breakthrough in establishing the template for all future offshore drilling permits”, Head of the EPA Dr. Vincent Adams told Stabroek News last evening.

“Yes the future permits refers to the Liza-2 development,” he added when asked specifically about the Liza-2 development. ….