The government of Guyana issued two main permitting documents to the ExxonMobil-led consortium pursuing the Whiptail development.
Minister of Natural Resources, Vickram Bharrat, issued the Petroleum Production License on April 12, 2024.
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Executive Director of the Environmental Protection Agency (EPA), Kemraj Parsram, issued the Environmental Permit on April 10, 2024.
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Following approval by the Guyana government, Stabroek Block partners ExxonMobil and Hess made their final investment decisions. The project has a US$12.7 billion estimated development cost and is targeting 850 million barrels of oil. The project will utilize the Jaguar floating production, storage and offloading (FPSO) vessel, to be delivered by SBM Offshore. It will include up to 10 drill centers and 48 production and injection wells.
Whiptail is expected to begin oil production by the end of 2027, ramping up to approximately 250,000 barrels per day.
ExxonMobil is the operator (45%), with Hess (30%) and CNOOC (25%) as its partners.
