Jagdeo confirms Exxon’s 250,000-bpd Whiptail project to be approved in Q1 2024

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Guyana Vice President Bharrat Jagdeo has indicated that ExxonMobil’s Whiptail project, set to produce 250,000 barrels of oil per day (bpd), is on track for approval in the first quarter of 2024. Responding to inquiries about the approval’s Q1 timeline, Jagdeo stated, “On Whiptail… yes,” but he could not be more specific. 

ExxonMobil submitted its field development plan (FDP) for the Whiptail project last year, as confirmed by ExxonMobil Guyana President Alistair Routledge. The company had also prior submitted an environmental impact assessment (EIA) to the Environmental Protection Agency (EPA). 

ExxonMobil’s plan with the Whiptail project is to harness a substantial daily oil production capacity of 250,000 barrels per day (bpd) using a floating production, storage, and offloading (FPSO) vessel named Jaguar, expected 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 bpd.

Whiptail is the final venture in Exxon’s series of six projects planned for the Stabroek Block, aiming to elevate the total offshore production of Guyana to over 1.3 million bpd. Additionally, the company is currently assessing the Fangtooth area, which may become the seventh development in the Stabroek block.

Exxon is the operator of the Stabroek block, where it has already gotten approval for five oil developments. With a 45% stake, Exxon is partnered with Hess (30%) and CNOOC (25%). 

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