Exxon points to major upcoming milestones in South America hotspot

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Liam Mallon, President of ExxonMobil’s Upstream Company, recently highlighted significant upcoming milestones the oil major is targeting in Guyana. He sat down with OilNOW on Feb. 20 on the sidelines of the Guyana Energy Conference and Supply Chain Expo. 

Mallon pointed out the imminent approval of the Whiptail project as a pivotal milestone, marking the sixth ExxonMobil development offshore Guyana. He stressed the importance of maintaining continuity in project execution, adhering to the concept of “design one, build many.” 

ExxonMobil’s plan with the Whiptail project is to harness a substantial daily oil production capacity of 250,000 barrels per day (b/d) using a floating production, storage, and offloading (FPSO) vessel named Jaguar, to be delivered by SBM Offshore. The anticipated first oil production is slated for late 2027 or 2028. It would take Guyana’s oil production to about 1.3 million b/d.

Addressing the broader scope of ExxonMobil’s endeavors, Mallon spoke optimistically about the company’s exploration efforts. “We see more success from our exploration efforts and continue to set the path for what goes beyond both [project] six and gas,” he remarked. 

ExxonMobil Guyana President, Alistair Routledge said the company is targeting seven prospects this year. There is Trumpetfish and Redmouth, two anchor-hunting wells, which are targeting new reserve bases for potential standalone developments. And then five exploration and appraisal wells under its greenlit 35-well campaign.

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Mallon’s enthusiasm extended to the visible progress in Guyana’s infrastructure. Highlighting developments such as improved roads, increased hospitals, and additional bridges, he noted these as positive signs for the country’s future. “So, I think you’ve got a lot to look forward to in the near term,” Mallon concluded.

Government revenues from oil production have been committed to support Guyana’s budget this year. Withdrawals from the Natural Resource Fund (NRF) will fund 29% of the US$5.5 billion 2024 budget. 

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