ExxonMobil has greenlit the Whiptail development off the coast of Guyana, marking the sixth initiative on the Stabroek block, following government and regulatory endorsements. This development is poised to enhance production by roughly 250,000 barrels daily by late 2027.
Liam Mallon, president of ExxonMobil Upstream Company, announced, “This monumental project will elevate Guyana’s production to about 1.3 million barrels per day. Our industry-leading development pace, cost efficiency, and environmental standards in Guyana stem from our strong partnership with the government, our associates, and the local workforce and businesses. The Stabroek block’s projects are pivotal in ExxonMobil’s portfolio for their low emissions intensity and will consistently supply reliable energy globally.”
The ambitious $12.7 billion Whiptail project will encompass up to 10 drilling centers and 48 production and injection wells. Mallon emphasized the company’s dedication to dispersing economic benefits across Guyana by investing in community and developmental projects aligning with the nation’s sustainable growth strategy.
Since the Stabroek block’s initial production in 2019, it has contributed over $4.2 billion to the Guyana Natural Resource Fund. Currently, the project employs around 6,200 Guyanese, accounting for 70% of its workforce. ExxonMobil Guyana and its contractors’ total expenditure with local suppliers has exceeded $1.5 billion by the end of 2023.
The Floating Production Storage and Offloading (FPSO) vessel, named Jaguar for the Whiptail project, is presently under construction. Three existing FPSOs—Liza Destiny, Liza Unity, and Prosperity—are already operational, producing over 600,000 barrels of oil daily off Guyana’s shores. Additional FPSOs for the Yellowtail and Uaru projects are under construction, with Yellowtail expected to commence production in 2025 and Uaru in 2026.
ExxonMobil Guyana Limited, an affiliate of ExxonMobil, manages operations with a 45% stake in the Stabroek block. Hess Guyana Exploration Ltd. holds a 30% interest, and CNOOC Petroleum Guyana Limited owns 25%.
