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ExxonMobil announced a final investment decision on November 12, 2026, for the $12.5 billion Longtail offshore development in Guyana, following government approval of the project's field development plan and petroleum production licence. Longtail will be the eighth development in the Stabroek Block and its first dedicated non-associated natural gas project, with production scheduled to begin in 2030. The development will include a new floating production, storage and offloading vessel designed to process 1.2 billion cubic feet of gas per day and produce up to 250,000 barrels of condensate daily. Guyana's Ministry of Natural Resources confirmed that the project will target nine reservoirs using 27 production wells and 18 gas-injection wells, with an estimated 776 million barrels of condensate production over 30 years. ExxonMobil Guyana operates the block with a 45% interest, alongside Hess Guyana Exploration with 30% and CNOOC Petroleum Guyana with 25%.
Guyana's First Dedicated Gas Development Gets the Green Light
ExxonMobil's announced additional investment
Startup expected before the end of the year
Estimated total production over 30 years
Processed on the FPSO, with reinjection capabilities built into the development.
Project designLiquid hydrocarbon production, storage and tanker offloading from the floating facility.
Project designFPSO export-readiness required. Pipeline development depends on further investment and infrastructure decisions.
Not separately sanctionedGas processing capacity is not the same as gas sold or transported to shore. Actual allocation between fuel use, reinjection and future exports will depend on operations and later development decisions.
Longtail's development plan and production licence, with a new FPSO, gas processing, gas reinjection, condensate production and associated offshore infrastructure.
The government requires gas-export readiness and studies. Any separate pipeline, contracted gas sales or onshore industrial project would require its own decisions and infrastructure.
The Billion-Dollar Subsea Opportunity Behind Longtail
Two major contractors have documented early Longtail awards. ExxonMobil's final investment decision advances the development, but the status of downstream work orders and marine installation campaigns must be checked separately.
Confirmed prior awards, subsequent contractual steps and potential marine-service requirements are distinguished. Scroll using the synchronized top or bottom scrollbar.
SBM Offshore describes the planned unit as having the largest gas-handling capacity deployed on an FPSO. This is a future design rating.
SBM's separate Guyana FPSO Jaguar has a published 540 MMscfd gas-processing rating. Longtail's proposed rating is approximately 2.22 times larger.
Installation campaigns at about 1,750m depth call for specialized equipment and vessels, but assignments are not yet publicly specified.
Multi-year work creates potential demand for port handling, warehousing, crew movement, consumables and offshore support services.
FPSO storage creates a marine export interface. Future tanker scheduling will be driven by realized production, cargo sizes and storage policy.
Longtail Tanker Liftings, Storage Cover & Gas Export Economics
Model condensate production and export parcels, offshore support-vessel expenditure and the implications of future gas sales. Quick mode focuses on shipping logistics. Advanced adds a simplified 30-year project cash-flow sensitivity.
Illustrative annual volume, calculated from producing days and barrels per producing day.
Annual Marine Cost Bridge
Discounted modeled contribution after selected costs and upfront project investment. This simplified model does not establish whether Longtail will be commercially profitable.
At the entered share of the FPSO's gas-processing rating and the selected producing days. Not a reserve estimate or a confirmed pipeline nomination.
How Tanker Demand Changes With Production
These illustrative scenarios use the same operating days, parcel size and cargo-handling assumptions. The maximum case is the FPSO's mechanical production rating, not a forecast of sustained output.
Advanced / Cumulative Discounted Project Scenario
The chart begins with the modeled upfront investment and accumulates discounted annual net contribution. The 776-million-barrel resource cap limits cumulative condensate production in the calculation. Gas export is assumed to require additional commercial authorization and infrastructure, which are not separately costed here.
Selected Project-Year Illustration
All monetary values are annual scenario contributions, not audited results or ExxonMobil earnings projections.
| Year | Condensate (m bbl) | Gas export (Bcf) | Annual net ($m) | Cumulative NPV ($bn) |
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