EXXONMOBIL GUYANA MOVES FORWARD WITH SIXTH OFFSHORE DEVELOPMENT

ExxonMobil has made a final investment decision for the Whiptail development offshore Guyana, after receiving the required government and regulatory approvals. The Whiptail project will include up to 10 drill centres with 48 production and injection wells.

“Our sixth multi-billion-dollar project in Guyana will bring the country’s production capacity to approximately 1.3 million barrels per day,” said Liam Mallon, president of ExxonMobil Upstream Company. “Our unrivalled success in developing the Guyana resource at an industry-leading pace, cost and environmental performance is built on close collaboration with the government of Guyana, as well as our partners, suppliers, and contractors. 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.”

Production from the six Stabroek block developments will generate tens of billions of dollars of revenue and significant economic development for Guyana.

The Floating Production Storage and Offloading (FPSO) vessel for the Whiptail project, to be named Jaguar, is under construction. Three FPSOs – the Liza Destiny, Liza Unity and Prosperity – are currently operating offshore Guyana and are safely producing more than 600,000 barrels of oil per day. Construction is underway on FPSOs for the Yellowtail and Uaru projects, with Yellowtail anticipated to start production in 2025 and Uaru targeted in 2026.