ExxonMobil Guyana’s next targeted development – Whiptail – is expected to cost US$12.933 billion (GY$2.690 trillion) according to the project’s Environmental Impact Assessment (EIA).
Exxon said it has not yet made a final investment decision (FID) on Whiptail and is “continuing to evaluate cost considerations” during its development process.
Its Whiptail development will be tapping into three massive reservoirs – Whiptail, Pinktail, and Tilapia.
The Whiptail- 1 discovery was announced in July 2021. The Whiptail-1 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 metres) of water. A discovery was also announced at Whiptail- 2 in July 2021. The Whiptail-2 well encountered 167 feet (51 metres) of net pay in high-quality oil-bearing sandstone reservoirs. Whiptail-2 was drilled in 6,217 feet (1,895 metres) of water.
Reports indicate that Exxon is expecting to issue an FID by October.
The Guyana government back in February had budgeted GY$100.7 million (US$483,000) to review Whiptail’s field development plan (FDP).
This will be Exxon’s sixth development in the Stabroek Block.
In total, there is potential to place 10 floating, production, storage, and offloading vessels at Stabroek.
ExxonMobil has a 45% operating stake in the Stabroek Block, while Hess has 30% and CNOOC has 25%.
