EXXONMOBIL has submitted its field development plan (FDP) to the Ministry of Natural Resources to execute its sixth development project, Whiptail, in the Stabroek Block, offshore Guyana.

ExxonMobil Guyana Limited’s (EMGL) President, Alistair Routledge, on Tuesday, disclosed to the media that the FDP was submitted on Friday, October 13, 2023.
“So that has commenced the process on all regulatory fronts,” he said as he pointed out that the Environmental Impact Assessment (EIA), has already been submitted to Guyana’s Environmental Protection Agency (EPA) for approval.

Routledge added that the permitting process is now actively engaged by the ministry and ExxonMobil has been actively engaging with parties involved before the formal submission, making sure that all the relevant material and development of concepts are shared ahead of time taking on board government feedback.
“So that’s been an active process, but we’re very much into the formal stages of the regulatory process,” he said.
The Whiptail project will see Exxon and its co-venturers, Hess and CNOCC, spend roughly US$13 billion to bring the project to life. With an expected production of 250,000 to 263,000 barrels per day, Whiptail will push Guyana’s daily oil production to more than 1.2 million bpd by 2028.
The Guyana Chronicle had previously reported that the Whiptail is expected to be identical to the Uaru development announced earlier this year, with a similar production capacity, and similar costs to the US$12.7 billion investment.

First oil from the Whiptail development is anticipated for either late 2027 or early 2028, and its announcement further earmarks deepwater Guyana as an investment boon and driver of economic growth in the region.

These new projects represent significantly larger investments than earlier ones like the Liza Phase 1 and 2 projects and will tap into more difficult-to-access reservoirs in deeper waters.
Building upon the success seen in 2022, during which the oil sector employed over 5,000 Guyanese workers, Whiptail will increase local content opportunities for Guyanese-owned-and-operated businesses.

The EIA estimates the project will require a workforce of around 800 persons. The project will involve drilling 33 to 72 development wells, tapping into three major reservoirs: Whiptail, Pinktail and Tilapia.

During a diaspora forum held at the University of London’s Chancellor Hall, Alistair Routledge, President of ExxonMobil Guyana, highlighted the company’s commitment to local-content opportunities and reiterated that it is a partner in Guyana’s development.

“We believe that the true measure of our success lies not only in the barrels produced but also in the positive impact we create for our people and the communities in which we operate. By prioritising local talent, partnerships, and investments, we aim to cultivate a thriving and sustainable environment that benefits everyone,” Routledge said in a statement earlier this year.
The filing of the FDP extends the runway for Guyana’s oil-and-gas industry which has thus far boasted a world-leading pace of discoveries. Finds to date total more than 11 billion barrels of oil equivalent. The five already-sanctioned projects in the Stabroek Block represent more than US $40 billion in investments.