ExxonMobil takes final investment decision on Guyana’s Longtail project
- The Longtail development has received government and regulatory approvals, with start-up targeted for 2030.
- ExxonMobil plans to invest an additional US$12.5 billion in the project.
- Its FPSO is designed to process 1.2 billion standard cubic feet of gas per day and produce up to 250,000 bpd of condensate.
- The project is expected to include approximately 45 subsea production and injection wells.
Project scope and schedule
ExxonMobil has made a final investment decision on Longtail, the eighth development in Guyana’s Stabroek block, after receiving government and regulatory approvals. Start-up is expected in 2030. The development targets non-associated gas and condensate-rich reservoirs, with an additional US$12.5 billion in investment planned.
The project will use a floating production, storage and offloading vessel designed to process 1.2 billion standard cubic feet of gas per day and produce up to 250,000 barrels of condensate per day. It is expected to include approximately 45 subsea production and injection wells. Gas could be transported to shore by pipeline, subject to future investment decisions, market demand and required infrastructure.
Stabroek development
ExxonMobil is producing approximately 900,000 barrels of oil per day from four Stabroek projects. Uaru is expected to start up in the fourth quarter, taking production above 1 million bpd. Whiptail is anticipated to begin production in 2027, followed by Hammerhead in 2029.
ExxonMobil Guyana Limited operates Longtail and holds a 45% interest in the block. Hess Guyana Exploration Ltd. holds 30%, and CNOOC Petroleum Guyana Limited holds 25%.
Source: ExxonMobil