ExxonMobil has reached a final investment decision on the Longtail development offshore Guyana, authorizing an additional USD 12.5 billion of investment for the project. The decision follows the required government and regulatory approvals of the Longtail Field Development Plan and was announced on Nov. 12, 2026. Located in the southeastern portion of the Stabroek block, Longtail is the eighth development on the block and is expected to come online in 2030.

The company says the project represents a deliberate expansion beyond oil into the block's gas and condensate resources, and it arrives as production from earlier phases approaches 1 million barrels per day.

Gas and condensate take center stage

Unlike the oil-focused developments that preceded it on the Stabroek block, Longtail targets non-associated gas and condensate-rich reservoirs.

The project will use a floating production storage and offloading vessel (FPSO) designed to process 1.2 billion standard cubic feet per day of gas and produce up to 250,000 barrels of condensate per day. The development is expected to include approximately 45 subsea production and injection wells.

Gas from Longtail could be transported to shore by pipeline, subject to future investment decisions, market demand and the development of the necessary infrastructure. ExxonMobil Upstream Company President Dan Ammann said developing the gas and condensate resources unlocks new value for Guyana while delivering advantaged energy to meet growing global demand.

He described the Stabroek block as one of the world's most prolific energy developments, with Longtail representing the next phase in realizing its full potential.

Production building toward 1 million barrels per day

ExxonMobil currently produces approximately 900,000 barrels of oil per day from four projects on the Stabroek block. The startup of the fifth project, Uaru, expected in the fourth quarter, is set to push production past the 1 million barrels per day mark.

Construction is meanwhile advancing on the sixth and seventh approved projects, Whiptail and Hammerhead. Whiptail is anticipated to begin production in 2027, with Hammerhead expected to follow in 2029.

Longtail, as the eighth development, extends that sequence and advances Guyana's gas and condensate resources into the project pipeline.

Guyanese participation and supplier spending

The Longtail decision builds on what the company describes as its long-term commitment to Guyana. Approximately 6,000 Guyanese currently support Stabroek block operations. Since 2015, ExxonMobil Guyana and its contractors have spent more than US$3.9 billion with Guyanese suppliers.

Operatorship and ownership stakes

ExxonMobil affiliate ExxonMobil Guyana Limited is the operator of Longtail and holds a 45% interest in the Stabroek block.

Hess Guyana Exploration Ltd. holds a 30% interest, with CNOOC Petroleum Guyana Limited holding the remaining 25%.

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, operates through its primary businesses of Upstream, Product Solutions and Low Carbon Solutions.