ExxonMobil Guyana is preparing to submit field development plans that will see the oil giant extracting at least 1 billion cubic feet of natural gas per day once the Longtail project comes on stream.
Longtail is Exxon’s eighth project within the offshore Stabroek block. At a press conference today, company President Alistair Routledge said the company is seeking environmental authorisation for the Longtail project, which is located around 120 miles off the coast.
Routledge stated that while the project is still in its finalisation stage, it is expected to produce approximately 250,000 barrels per day of crude oil. He added that since the Longtail project is primarily focused on gas development, “we anticipate it could exceed 1 billion cubic feet per day of gas handling capacity.”
He informed the media that Exxon is looking to submit its Field Development Plan (FDP) next year, in 2026. This document will provide additional details about the project, including the volume of non-associated gas.
ExxonMobil is currently producing about 650,000 barrels of oil per day. The company is awaiting approval from the Environmental Protection Agency (EPA) to increase production from its Payara and Liza 2 wells to over 260,000 barrels of oil per day. With the fourth project, Yellowtail, set to start this year, oil production per day from the Stabroek Block is expected to rise to 900,000 barrels.
Other oil projects, Urau and Whiptail, have received government approval, while the FDP for the Hammerhead field is expected to be submitted before the end of the first quarter.
ExxonMobil has also announced the production of around 50 million standard cubic feet of gas per day from the Liza oil fields. The Longtail project will add to the availability of gas, which, according to the Exxon President, will benefit Guyana.
The upcoming Wales Gas-to-Energy power project will serve as the landing point for the natural gas. The Guyana government is hoping to reduce electricity costs by 50 per cent with this energy project.
