ExxonMobil has made a final investment decision for the Longtail development offshore Guyana, following required government and regulatory approvals of the Longtail Field Development Plan.

Final Investment Decision for Longtail

The project is the eighth development on the Stabroek block and is located in its southeastern portion. Longtail is expected to come online in 2030.

The company plans an additional USD 12.5 billion of investment for the Longtail development. According to ExxonMobil Upstream Company President Dan Ammann, Longtail represents the next phase in realizing the full potential of what he described as one of the world's most prolific energy developments.

"By developing these gas and condensate resources, we're unlocking new value for Guyana while delivering advantaged energy to meet growing global demand," Ammann said.

A New Phase Targeting Gas and Condensate

Longtail marks a new phase of development on the Stabroek block, targeting non-associated gas and condensate-rich reservoirs rather than the oil-focused developments that preceded it.

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.

The development is expected to include approximately 45 subsea production and injection wells. Subject to future investment decisions, market demand, and the development of necessary infrastructure, gas from Longtail could be transported to shore by pipeline.

Current Production and Project Pipeline

ExxonMobil is currently producing approximately 900,000 barrels of oil per day 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 barrels per day.

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. Longtail, as the eighth development, extends this sequence and advances Guyana's gas and condensate resources.

Local Participation and Spending

Longtail builds on ExxonMobil's long-term commitment to Guyana. Approximately 6,000 Guyanese currently support Stabroek block operations. Since 2015, ExxonMobil Guyana and its contractors have spent more than US$3.9 billion with Guyanese suppliers.

Ownership Structure

ExxonMobil affiliate ExxonMobil Guyana Limited is the operator of Longtail and holds a 45% interest in the Stabroek block. Hess Guyana Exploration Ltd. holds a 30% interest, and CNOOC Petroleum Guyana Limited holds the remaining 25%.

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, operates through its primary businesses of upstream, product solutions, and low carbon solutions.

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