ExxonMobil and its partners Hess and CNOOC are seeking environmental approvals from Guyana for their eighth project, Longtail, which is expected to add up 250 kb/d of crude oil production capacity and 1 bcf/d (10.3 bcm/year) of natural gas by 2030. The US company intends to increase output capacity in Guyana by 53% in 2025, from 615 kb/d in 2024 to 940 kb/d in 2025, thanks to upgrades at two of its three floating oil facilities (the Liza Destiny, Liza Unity and Payara FPSOs) and the arrival of a fourth vessel. Production target is 1.7 mb/d by end of 2029, once the first seven offshore projects are operational.
The project will be operated by ExxonMobil (45%) in partnership with Hess Corp (30%), and China's CNOOC (25%). The partnership also has two other projects under development with a FPSOs capacity of approximately 250 kb/d each (the Uaru and the Whiptail projects) which are expected to come online in 2026 and 2027, respectively.