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Exxon Mobil (NYSE:XOM) said Friday it made a final investment decision for the Whiptail development offshore Guyana after receiving the required government and regulatory approvals.
The Exxon-led consortium, which also includes Hess (HES) and Cnooc (OTCPK:CEOHF), expects Whiptail - the sixth project on the offshore Stabroek block - will add ~250K bbl/day of oil production capacity by the end of 2027, raising Guyana's overall capacity to ~1.3M bbl/day.
The $12.7B Whiptail project will include up to 10 drill centers with 48 production and injection wells, targeting a resource base estimated at more than 850M barrels of oil.
The floating production, storage and offloading vessel for Whiptail, to be named Jaguar, is under construction by SBM Offshore (OTCPK:SBFFF) (OTCPK:SBFFY).
Three developments on the 6.6M-acre Stabroek Block - Liza Phase 1, Liza Phase 2 and Payara - currently produce more than 640K gross bbl/day of oil per day, while the fourth and fifth developments - Yellowtail and Uaru - are in progress with production startup planned for 2025 and 2026 respectively.