Currently, Exxon and partners produce more than 380,000 barrels of oil per day from two vessels offshore Guyana. Credit: wasi1370 from Pixabay.

Exxon Mobil expects to make the final investment decision (FID) on the Whiptail oilfield project offshore Guyana by Q1 2024, reported Reuters, citing the company’s country chief, Alistair Routledge.

In August 2023, Reuters reported that Exxon and its partners plan to develop the Whiptail field with an investment of $12.93bn.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Exxon’s partners in the project include US-based Hess and China National Offshore Oil Corporation (CNOOC).

The Whiptail field is expected to boost the Exxon-led consortium’s oil production in Guyana to more than 1.2 million barrels of oil per day (bopd).

Routledge said the development plan for the Whiptail field was submitted to Guyana’s Government on 13 October 2023.

Rotledge said to local reporters at a press conference: “All the permitting process is now actively engaged.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“It is really quite outstanding to think that within eight years of first production, Guyana could achieve over 1.2 million barrels of oil per day.”

Currently, Exxon and partners produce more than 380,000bopd from two vessels in Guyana. The partners expect to develop up to ten offshore projects in the South American country.

Exxon plans to commission a third vessel at the Payara project by 2023 end, the executive said.

Recently, Dutch company SBM Offshore was selected by ExxonMobil to provide front-end engineering and design (FEED) for a floating production, storage and offloading (FPSO) vessel for the Whiptail project.

Upon completion of the FEED studies and subject to certain conditions, SBM Offshore will build and install the FPSO.