The International Monetary Fund’s (IMF) April 2024 World Economic Outlook report revealed Guyana to be the only country in the Western Hemisphere that is forecasted to experience double-digit economic growth in 2024.  Themed ‘Steady But Slow: Resilience Amid Divergence’, the...

ExxonMobil’s newly approved Whiptail project is expected to produce oil from reservoirs shared between the Whiptail license area and those of two other Stabroek Block projects (Yellowtail and Uaru).  According to the Whiptail production license, Exxon notified the government that...

TechnipFMC has been awarded a large contract in Guyana’s Stabroek Block by ExxonMobil Guyana to supply subsea production systems for the Whiptail project. The contract value is between US$500 million and US$1 billion. This follows the greenlighting of the project...

Guyana’s annual oil exports are expected to triple in value from US$11 billion in 2023 to US$33 billion by 2030, according to a recent report from S&P Global Commodity Insights.  "In real terms, the value of Guyana's oil production is...

Italian multinational oilfield services company Saipem has received authorization from ExxonMobil Guyana Limited and its Stabroek Block coventurers to proceed with the execution of the giant Whiptail oilfield development project. Saipem said at the weekend that the authorization has been...

ExxonMobil’s cost estimate for the Whiptail development, recently approved by the Guyana government, has been slashed by approximately US$200 million. The project is targeting production of 850 million barrels of oil at 250,000 barrels per day (b/d). At the stage...

Hess warned in a filing to the U.S. Securities and Exchange Commission (SEC) that its acquisition by Chevron could be pushed to 2025, Reuters reported.  Hess and Chevron had intended to close the sale in the middle of 2024. The delay...

The US$12.7 billion Whiptail development is targeting an estimated resource base of more than 850 million barrels of oil, Hess Corporation said. The project will utilize the Jaguar floating production, storage and offloading (FPSO) vessel, to be delivered by...

ExxonMobil has awarded contracts to SBM Offshore to build and deploy the Jaguar floating production, storage and offloading (FPSO) vessel for the Whiptail development at Guyana’s Stabroek Block.  Under the terms of the agreement, ownership of the Jaguar vessel will...

Mega project to start-up in 2027 The final investment decision (FID) for ExxonMobil’s sixth Stabroek Block development, Whiptail, has been made, the company announced on Friday.  The project, after ramping up, will add 250,000 barrels of oil per day to Guyana...