By Kemol King
GEORGETOWN, Feb 12 (Reuters) - A consortium led by Exxon
Mobil ( XOM ) has requested environmental permits from Guyana
for its eighth project, the first that will generate gas not
linked to oil production, and to explore another well at its
massive offshore block, the head of the U.S. oil major in Guyana
said on Wednesday.
The Exxon group is getting ready for a very active year for
exploration and production in Guyana following upgrades that
increased the capacity of two of its three floating facilities
and the expected arrival of a fourth vessel in the coming weeks,
which will expand its total output capacity to around 940,000
barrels per day (bpd).
Guyana is pressing Exxon to produce and deliver more natural
gas, part of the government's strategy to rely on the fuel for
power generation, to industrialize the country and begin
petrochemical and liquefied natural gas businesses that can
expand revenue.
The consortium recently completed a long-awaited appraisal
of its gas resources in the area, which will allow a more
accurate calculation of total resources available for output,
said Alistair Routledge, president of Exxon Guyana, in a press
conference.
The study could help integrate Exxon's efforts with a
massive development awarded by Guyana to Fulcrum LNG, aimed at
designing and building the country's first LNG project.
Routledge said Exxon has not had recent conversations with
the company.
In 2030, Exxon's eight project, dubbed Longtail, is expected
to add up to 250,000 barrels per day of crude output capacity
and 1 billion cubic feet per day of natural gas production.
Guyana's economy achieved its fifth consecutive year of
double-digit growth in 2024, expanding 43.6%, driven by oil
production. Oil output rose to an average of 616,000 bpd from
391,000 bpd the previous year.