The Whiptail project, which will use a Floating Production Storage and Offloading (FPSO) vessel, will entail an investment of around $12.7bn. It would include up to ten drill centres with 48 production and injection wells.
By the end of 2027, the development is expected to increase Stabroek block’s production capacity by around 250,000 barrels per day.
ExxonMobil Upstream Company president Liam Mallon said: “Our sixth multi-billion-dollar project in Guyana will bring the country’s production capacity to approximately 1.3 million barrels per day.
“The Stabroek block developments are among the lowest emissions intensity assets in ExxonMobil’s upstream portfolio and will provide the world with additional reliable energy supplies now and for years to come.”