Final investment decision for Exxon’s 6th Guyana project expected early next year

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Subject to approvals from authorities in Guyana, the final investment decision (FID) for ExxonMobil’s massive Whiptail development – its sixth in the Stabroek Block – is expected by Q1 2024. 

So says the president of the company’s Guyana operations, Alistair Routledge, when asked by reporters on October 17. 

“We’re anticipating somewhere around the first quarter or maybe the end of [the] first quarter of next year… but as I say, subject to going through the appropriate regulatory process,” he relayed. 

The company submitted the field development plan for Whiptail last Friday (October 13) to the Guyana government for review. On their end, the government has set aside some GY$100.7 million to complete this process. 

Whiptail will be tapping into three massive reservoirs –  Whiptail, Pinktail, and Tilapia.  

Exxon plans to target up to 72 wells to develop the fields.

The Whiptail-1 discovery was announced in July 2021. The well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs and was drilled in 5,889 feet (1,795 meters) of water. A discovery was also announced at Whiptail-2 in July 2021. That well encountered 167 feet (51 meters) of net pay in high-quality oil-bearing sandstone reservoirs. Whiptail-2 was drilled in 6,217 feet (1,895 meters) of water.

First oil is expected between the fourth quarter of 2027 and the second quarter of 2028. The project will be in production for at least 20 years.

Whiptail will take Guyana’s total production to more than 1.3 million bpd.

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