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Exxon greenlights US$12.7 billion Whiptail project in Guyana

The final investment decision (FID) for ExxonMobil’s sixth Stabroek Block development, Whiptail, has been made, the company announced on Friday. 

The project, after ramping up, will add 250,000 barrels of oil per day to Guyana output. Production is expected to begin by the end of 2027.

“Our sixth multi-billion-dollar project in Guyana will bring the country’s production capacity to approximately 1.3 million barrels per day,” said President of ExxonMobil Upstream Company, Liam Mallon.

Whiptail Development Fact Sheet | OilNOW

The Whiptail project, valued at US$12.7 billion, will feature up to 10 drill centers with 48 production and injection wells. Mallon reiterated Exxon’s dedication to supporting local Guyanese communities and sustainable development initiatives.

Exxon said the Stabroek Block developments are expected to generate substantial revenue and drive economic growth in Guyana.

“Since 2019, over US$4.2 billion has been deposited into the Natural Resource Fund,” the company said.

Exxon’s 6th Guyana project targeting Whiptail, Pinktail, Tilapia fields | OilNOW

The company said its operations in the Stabroek Block have created employment opportunities for Guyanese citizens, with 6,200 locals currently comprising 70% of the workforce. Exxon’s investment in local suppliers has exceeded US$1.5 billion since 2015.

Construction of the floating production, storage and offloading (FPSO) vessel, named Jaguar, is underway and is being executed by Dutch floater specialist, SBM Offshore.

Additionally, three FPSOs – Liza Destiny, Liza Unity, and Prosperity – are currently operational, collectively producing more than 600,000 barrels of oil per day. Construction is progressing on FPSOs for the Yellowtail and Uaru projects, with anticipated production start dates in 2025 and 2026, respectively.

Norway firm forecasts five more FPSO awards for Guyana in five years

ExxonMobil affiliate ExxonMobil Guyana Limited serves as operator and holds a 45% interest in the Stabroek Block, with Hess Guyana Exploration Ltd. holding a 30% interest, and CNOOC Petroleum Guyana Limited holding a 25% interest.

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