ExxonMobil Says Evaluating Ninth FPSO for Guyana

en.Wedoany.com Reported - ExxonMobil Chairman and CEO Darren Woods revealed during the company's second-quarter 2026 earnings call on July 31 that the company is evaluating deploying a ninth floating production, storage and offloading vessel (FPSO) for Guyana, which could follow the development concept of the advancing Longtail project. Woods stated that the company sees an opportunity to leverage the technology developed for the Longtail project and apply it to another project in the Stabroek block offshore Guyana.

"One of the opportunities we see right now is that this ninth FPSO can really take advantage of the work we've done on the Longtail project, replicate that model, and thereby gain significant capital advantages," Woods said. The highly anticipated ninth project is primarily centered around the Haimara discovery.

This disclosure suggests Guyana may be entering a new phase of development. ExxonMobil stated that total production in the region reached approximately 900,000 barrels per day in the second quarter. "We obviously haven't finalized it yet, but it's progressing, and it looks quite attractive at this point," he said.

These remarks were made as ExxonMobil outlined its broader Guyana plans during the earnings call. Woods stated that the Longtail project is on track for a final investment decision. He also indicated that the company believes there is still room for further development in the block. "The potential of this field hasn't been exhausted, and we will continue to evaluate what more we can get out of it," Woods said.

ExxonMobil stated that Guyana remains one of the most prominent examples of its "advantaged growth." Woods noted that the offshore development has exceeded company expectations in terms of faster project delivery, lower costs, high reliability, and optimized production.

Senior Vice President and Chief Financial Officer Neil Chapman stated that the company's performance in Guyana has solidified its reputation among governments seeking partners for major resource development. "You can rest assured that our organization is very focused on maximizing the value of this block, obviously for the benefit of ExxonMobil, but more importantly for Guyana, the Guyanese government, and the people of Guyana," he said.

The Longtail project is expected to produce up to 1.2 billion cubic feet of natural gas per day and approximately 250,000 barrels of condensate per day. Government approval and a final investment decision are expected later this year, with ExxonMobil planning to begin production at Longtail in 2030.