ExxonMobil Made Final Investment Decision for Development Offshore Guyana

SEATTLE (Oil Monster): ExxonMobil announced that it has made a final investment decision for the Whiptail development offshore Guyana. The project had received necessary government and regulatory approvals. Whiptail is the sixth project on the Stabroek block and is expected to add around 250,000 barrels of daily capacity by the end of 2027.

The $12.7 billion project will include up to 10 drill centres, comprising 48 production and injection wells.

Making the announcement, Liam Mallon, president of ExxonMobil Upstream Company noted that the multi-billion-dollar project in Guyana will boost the country’s production capacity to approximately 1.3 million barrels per day. The development will provide the world with additional reliable energy supplies for years to come, he added.

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The production from the six Stabroek block developments is expected to generate huge revenue, thus boosting Guyana’s economic development. Out of the total workforce, approximately 70% are locals.

The Floating Production Storage and Offloading (FPSO) vessel for the Whiptail project is being constructed.

The Stabroek block is operated by ExxonMobil Guyana Limited, who holds 45% interest in it. Hess Guyana Exploration Ltd. holds 30% interest, whereas the remaining 25% stake is held by CNOOC Petroleum Guyana Limited.