ExxonMobil plans to spend about US$12.5 billion developing Longtail, Guyana’s eighth offshore project, with startup targeted for 2030.
The Government of Guyana announced its approval of the project on Thursday evening. ExxonMobil is developing it alongside co-venturers CNOOC Petroleum Guyana and Hess Guyana Exploration, which now falls under Chevron.
In a release, ExxonMobil confirmed the investment and said startup is slated for 2030. Longtail will also be Guyana’s first project focused on non-associated natural gas and condensate. The Government said it envisions Longtail leading to the development of a major natural gas project in Berbice.
See below the full release from ExxonMobil:
ExxonMobil has made a final investment decision for the Longtail development offshore Guyana following required government and regulatory approvals. Longtail, the eighth development located in the southeastern portion of the Stabroek block, is expected to come online in 2030.
Longtail marks a new phase of development on the Stabroek block, targeting non associated gas and condensate-rich reservoirs. Subject to future investment decisions, market demand and the development of necessary infrastructure, gas from Longtail could be transported to shore by pipeline. The project will utilize a floating production storage and offloading (FPSO) vessel designed to process 1.2 billion standard cubic feet per day of gas and produce up to 250,000 barrels of condensate per day (bpd).
The Longtail project is expected to include approximately 45 subsea production and injection wells.
“Guyana is home to one of the world’s most prolific energy developments, and Longtail represents the next phase in realizing the full potential of its resources,” said ExxonMobil Upstream Company President Dan Ammann. “By developing these gas and condensate resources, we’re unlocking new value for Guyana while delivering advantaged energy to meet growing global demand.”
Longtail builds on ExxonMobil’s long-term commitment to Guyana. Today, approximately 6,000 Guyanese support Stabroek block operations. Since 2015, ExxonMobil Guyana and its contractors have spent more than US$3.9 billion with Guyanese suppliers.
ExxonMobil is safely producing approximately 900,000 barrels of oil per day (bpd) from four projects in the Stabroek block. With the expected startup of the fifth project, Uaru, in the fourth quarter, production is expected to exceed 1 million bpd.
Construction is also progressing on Whiptail and Hammerhead, the sixth and seventh approved projects. Whiptail is anticipated to begin production in 2027, with Hammerhead expected to follow in 2029.
ExxonMobil affiliate ExxonMobil Guyana Limited is the Longtail operator and holds a 45% interest in the Stabroek block. Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC Petroleum Guyana Limited holds 25% interest.
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