ExxonMobil, through its subsidiary ExxonMobil Guyana, has reached a final investment decision (FID) to move forward with the development of the Longtail field, located offshore Guyana.
The company plans to invest $12.5bn in the eighth project in the Stabroek block, with production targeted to commence in 2030.
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Situated in the south-eastern area of the Stabroek block, the Longtail development aims to extract non-associated gas and condensate-rich resources.
The development will employ a floating production, storage and offloading (FPSO) vessel capable of handling 1.2 billion standard cubic feet of gas per day and generating up to 250,000 barrels of condensate daily.
Approximately 45 subsea production and injection wells are expected to be drilled as part of the project.
While Longtail is designed to process gas and condensate offshore, the potential exists to transport gas to shore by pipeline, depending on future investment decisions, market needs, and the establishment of supporting infrastructure.
ExxonMobil Guyana operates the Longtail project with a 45% interest in the Stabroek block. Its partners include Hess Guyana Exploration, holding 30%, and CNOOC Petroleum Guyana, with 25%.
Current production from the Stabroek block is about 900,000 barrels of oil per day (bopd) across four developments.
ExxonMobil expects output to exceed one million barrels per day after the planned start-up of the Uaru project in the fourth quarter of 2026.
ExxonMobil upstream company president Dan Ammann said: “Guyana is home to one of the world’s most prolific energy developments, and Longtail represents the next phase in realising the full potential of its resources.
“By developing these gas and condensate resources, we’re unlocking new value for Guyana while delivering advantaged energy to meet growing global demand.”
Construction on the Whiptail and Hammerhead fields, the block’s sixth and seventh projects, is ongoing, with Whiptail targeting a 2027 start and Hammerhead anticipated in 2029.
In April 2026, Saipem received a limited notice to proceed (LNTP) from ExxonMobil Guyana, valued at around $150m (€127.91m), pertaining to the Longtail project.
