ExxonMobil Guyana and its co-venturers in the prolific Stabroek Block are seeking environmental authorisation for another project, Longtail, from the Government of Guyana.
Longtail will be the eighth project the company forges ahead with in the giant Block, located approximately 120 miles offshore Guyana.
“The Longtail project is still a little bit early in the process of being finalised but we anticipate it could be as high as 250,000 barrels per day for production capacity for the liquids,” ExxonMobil Guyana Limited President Alistair Routledge said at a press conference on Wednesday.
The ExxonMobil-led consortium is already producing about 650,000 barrels of oil daily at three projects in the Stablock Block; oil production at a fourth project, Yellowtail, should start later this year and hike Guyana’s daily oil production to about 900,000 barrels per day.
Other projects, Uaru and Whiptail, have been approved. Production should commence before the end of this decade. The consortium also hopes to submit the Field Development Plan for Hammerhead, the seventh project, to the Guyana Government by March 2025.
GAS DEVELOPMENT
Routledge, however, noted there is also much optimism about the natural gas reserves at Longtail. It is estimated that the development could produce about one billion cubic feet per day of natural gas.
“This is more of a gas development,” he said.
There has been a keen interest in understanding Guyana’s natural gas reserves. Already, about 50 million standard cubic feet of gas per day will be brought onshore from the Liza I and II project in the Stabroek Block.
That gas will be used to fire a power plant at the Wales gas-to-energy project; this highly-touted project, the government said, should halve the cost of electricity across Guyana.
US company working with gov’t, ExxonMobil to monetise Guyana’s gas
The Guyana Government and ExxonMobil have been working to determine what other gas monetisation opportunities exist. Routledge told reporters at the conference that a gas appraisal programme was recently completed and now, the company will be analysing the data obtained to determine how to develop gas reserves.
For its part, the Government of Guyana selected a United States company, Fulcrum LNG, to work alongside the administration and an ExxonMobil-led consortium to figure out how best to monetise natural gas resources.
Routledge, on Wednesday, said the company has no active engagement with Fulcrum however.
“What we’re focused on is understanding the resources and in parallel, doing our own work on developing a market for Guyana,” he said.
