(CercleFinance.com) – ExxonMobil announced Friday that it had made the final investment decision for the development of Whiptail, its sixth offshore project off the coast of Guyana.
The American oil group plans to devote $12.7 billion in investments to the construction of ten drilling sites, which will be accompanied by 48 production and injection wells.
Following its commissioning, expected in 2027, the field is expected to produce approximately 250,000 barrels per day, bringing Exxon’s total capacity in Guyana to some 1.3 million barrels per day.
With a 45% stake, ExxonMobil is the main operator of the Stabroek block, which hosts this sixth project, followed by its compatriot Hess (30%), recently acquired by Chevron, and the Chinese CNOOC (25%).
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