ExxonMobil Advances Whiptail Development in Guyana

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ExxonMobil has reached a final investment decision for the Whiptail development offshore Guyana, following necessary government and regulatory approvals. Whiptail, the sixth project on the Stabroek block, is anticipated to increase daily capacity by approximately 250,000 barrels by the end of 2027.

Liam Mallon, president of ExxonMobil Upstream Company, highlighted the significance of this project, stating that it will elevate the country’s production capacity to about 1.3 million barrels per day. He emphasized ExxonMobil’s collaboration with the government of Guyana, partners, suppliers, and contractors in achieving industry-leading pace, cost, and environmental performance.

The Whiptail project, valued at $12.7 billion, will encompass up to 10 drill centers with 48 production and injection wells. Additionally, ExxonMobil is committed to investing in local Guyanese communities and projects to foster the country’s phased and sustainable development.

The six Stabroek block developments are expected to generate substantial revenue and economic growth for Guyana. Since 2019, over $4.2 billion has been deposited into the Guyana Natural Resource Fund. Moreover, ExxonMobil Guyana and its contractors have spent over $1.5 billion with Guyanese suppliers since 2015.

ExxonMobil affiliate ExxonMobil Guyana Limited operates the Stabroek block with a 45% interest, while Hess Guyana Exploration Ltd. and CNOOC Petroleum Guyana Limited hold 30% and 25% interest, respectively.