ExxonMobil Guyana’s sixth oil project in the Stabroek Block is expected to receive government approval this quarter, Vice President Dr. Bharrat Jagdeo confirmed on Thursday. Speaking at his first press conference of the year, Dr. Jagdeo refrained from committing to a specific approval date but maintained that the project, named Whiptail, is progressing as planned.
“I know the assessment is being done by our external consultants,” Dr. Jagdeo mentioned, highlighting the ongoing review process. He further added, “I can’t tell you on a daily basis where they are because I don’t track that. But I think that it’s still on track so far for the first quarter.”
The Whiptail project, disclosed by ExxonMobil Guyana Limited’s Country Manager Alistair Routledge in October last year, involves an investment of US$13 billion. It aims to develop multiple fields, including Whiptail, Pinktail, and Tilapia, along with additional resources if deemed feasible. Routledge had revealed that the field development plan was submitted on October 13, 2023, and all necessary permitting processes are now in motion.
The project plans to utilize drillships for oil extraction from about 40 to 65 production and injection wells, with production commencement anticipated between 2027 and 2028. The field’s operational lifespan is estimated to be at least 20 years.
ExxonMobil projects the Whiptail development to significantly bolster Guyana’s daily oil production, adding up to 275,000 barrels per day.
Once operational, ExxonMobil expects to have six oil ships with a combined capacity exceeding 1.2 million barrels per day in the Stabroek block by end-2027, potentially expanding to ten ships to tap into the estimated 11 billion barrels of oil equivalent resources.
The 6.6 million-acre Stabroek block, operated by ExxonMobil with a 45% interest, is a joint venture with Hess Guyana Exploration (30%) and CNOOC Petroleum Guyana (25%).
