GEORGETOWN, Guyana, CMC – The Guyana government Friday said it had granted a petroleum production license to the US oil and energy giant ExxonMobil, the Stabroek Block operator, for its sixth development offshore Guyana, Whiptail.
It said that this US$12.7 billion development will produce 250,000 barrels of oil daily, bringing daily production to 1.3 million by the end of 2027.
The Ministry of Natural Resources said, “Additionally, this development will include up to ten drill centers with 48 production and injection wells.”
It said the construction of Jaguar, the floating, production, and offloading (FPSO) vessel identified for this development, remains in progress.
“This vessel joins the Liza Destiny, Liza Unity, and Prosperity FPSOs, which are producing over half a million barrels of oil daily combined. Construction is also in progress for the Yellowtail and Uaru developments. Production for these projects is slated to commence in 2025 and 2026, respectively.
“Notably, oil production from this sixth development will generate billions in revenue for Guyana, thereby supporting significant economic and social upliftment for the country and its citizens,” the ministry added.
Meanwhile, in a separate statement from its US office, ExxonMobil said it had made a final investment decision for the Whiptail development offshore Guyana after receiving the required government and regulatory approvals.
It said Whiptail, the sixth project on the Stabroek block, is expected to add approximately 250,000 barrels of daily capacity 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 Liam Mallon, president of ExxonMobil Upstream Company.
“Our unrivaled success in developing the Guyana resource at an industry-leading pace, cost, and environmental performance is built on close collaboration with the government of Guyana, as well as our partners, suppliers, and contractors. The Stabroek block developments are among ExxonMobil’s upstream portfolio’s lowest emissions intensity assets. They will provide the world with additional reliable energy supplies now and for years to come.”
ExxonMobil said the $12.7 billion Whiptail project will include up to 10 drill centers with 48 production and injection wells.
“We are committed to helping spread the benefits throughout the country by investing in local Guyanese communities and projects to support the country’s phased and sustainable development,” said Mallon.
ExxonMobil said that production from the six Stabroek block developments will generate tens of billions of dollars of revenue and significant economic growth for Guyana. It said since its first production in 2019, more than US$4.2 billion has been paid into the Guyana Natural Resource Fund.
It said 6,200 Guyanese—70 percent of the workforce —are currently working in support of Stabroek block operations. ExxonMobil Guyana and its contractors’ cumulative spending on Guyanese suppliers since 2015 surpassed US$1.5 billion at the end of 2023.
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