US oil giant ExxonMobil revealed that it would invest around $12.93bn in developing its sixth offshore project in Guyana.
Exxon’s sixth project – Whiptail – will be located in the eastern portion of the Stabroek Block, some 195 kilometres northeast of Georgetown and amid previous Stabroek projects.
The US firm revealed in an Environmental Impact Assessment made available by the Guyana Environmental Protection Agency on Monday that Whiptail would consist of drilling between 33 and 72 development wells from late 2024 through mid-2030, including production and water and gas injection wells.
Whiptail will, like the rest of Exxon’s Guyana projects, have an FPSO installed and the installation of subsea components of the project will begin in the second half of 2025 or early 2026.
The FPSO for the project is supposed to start operations in 2027 and bring the Exxon-led consortium’s oil output in Guyana to over 1.2m bpd.
It is expected that the project will employ up to a peak of 540 people during the drilling and installation stage and from 100 to 180 people during the production operations stage.
Guyana has so far provided discoveries of more than 11 billion barrels of oil and gas. Exxon and its partners – Hess and CNOOC – produce around 400,000 bpd from two FPSOs and are aiming for up to 10 offshore projects.
