LATIN AMERICA · GUYANA · ENERGY
Guyana has approved ExxonMobil’s Longtail project, for which the company plans an additional US$12.5 billion of investment and which the ministry calls the country’s first built around natural gas rather than crude oil. Guyana’s Ministry of Natural Resources said on Thursday 12 November 2026 that it had approved the field development plan and issued the production licence.
ExxonMobil, the Texas-based company whose shares trade in New York as XOM, took its final investment decision, the formal go-ahead to spend the money, the same day and targets start-up in 2030. Longtail is the eighth development in the Stabroek Block, the offshore area off Guyana’s coast where Exxon and its partners already produce oil.
Key Facts
- What Guyana approved Longtail’s field plan and production licence; ExxonMobil, the operator, took its final investment decision.
- Cost US$12.5 billion of additional investment, with start-up targeted for 2030.
- Capacity Designed for 1.2 billion cubic feet of gas and 250,000 barrels of light liquid fuel (condensate) a day.
- Why it differs The ministry calls it Guyana’s first project built around gas that does not come with oil.
- As of Friday 13 November 2026, 18:30 GMT (1:30 p.m. Eastern Time).
What Guyana Approved
The ministry said it approved the Longtail field development plan and issued the matching petroleum production licence, the state permit to produce. ExxonMobil Guyana Limited operates the project with two partners, Hess Guyana Exploration Limited and CNOOC Petroleum Guyana Limited, according to the ministry’s statement.
The licence requires a gas utilisation and export study, the ministry said. The project will have full gas reinjection capability, meaning gas can be pumped back underground, and gas export facilities.
What Will Be Built
Longtail will use a new floating production, storage and offloading vessel, known as an FPSO, which processes and stores the output offshore. The ministry said it will draw on nine reservoirs through 27 production wells and 18 gas injection wells.
The vessel is designed to handle about 1.2 billion cubic feet of gas a day and up to 250,000 barrels of condensate a day, the ministry said. Condensate is a light liquid that comes out of gas wells, and the ministry expects about 776 million barrels of it over 30 years.
In Plain English
- Non-associated gas Gas found in fields that do not also produce crude oil.
- FPSO A ship-shaped floating plant that processes and stores offshore output.
- Condensate A light liquid fuel that comes out with natural gas.
- Final investment decision The company’s formal commitment to spend the money.
Where the Gas Could Go
ExxonMobil said in its news release that gas from Longtail could be sent to shore by pipeline, but only subject to future investment decisions, market demand and infrastructure. Demerara Waves, a Guyanese news site, reported the same on 12 November.
The ministry called Longtail an important step towards the government’s plans, which include a second offshore gas-to-energy pipeline. It says that pipeline would support fertiliser production, alumina and mineral processing and data centres.
Why It Matters for Guyana and Oil Markets
Longtail would add a second product line to a country whose output so far is crude oil: ExxonMobil produces about 900,000 barrels of oil a day from four offshore projects, Guyana Times, a Guyanese newspaper, reported on 13 November. The vessel’s condensate capacity of up to 250,000 barrels a day is a design figure rather than a forecast, and start-up is targeted for 2030.
One limit comes from ExxonMobil itself: it says a pipeline to shore depends on future investment decisions, market demand and infrastructure. That means the gas-to-shore plan the government describes is not yet a final investment decision.
For background, see our reports on Guyana’s oil passing one billion barrels and on the state’s share of Stabroek profit. Our Guyana news page tracks later steps.
What It Means for You
ExxonMobil shareholders now have a project with a stated timeline to follow: the company targets 2030, and the ministry expects first production before the end of 2030. This is reporting, not advice, and ExxonMobil’s release is the source for the cost.
What Is Not Known
- How Longtail’s costs will affect the state’s share of profit; the ministry’s statement does not say.
- Whether and when a pipeline to shore will be approved.
- Which buyers will take the gas and condensate.
- The exact start date: ExxonMobil says 2030, while the ministry says first production before the end of 2030.
Frequently Asked Questions
What is the Longtail project in Guyana?
Longtail is the eighth development in the Stabroek Block, the offshore area where ExxonMobil and its partners operate. It will produce natural gas and condensate through a new floating plant, with start-up targeted for 2030.
Is Longtail an oil project?
It is a natural gas and condensate project. The Ministry of Natural Resources calls it Guyana’s first non-associated gas project, meaning gas found in fields that do not also produce crude oil.
How much will Longtail cost?
ExxonMobil says it plans an additional US$12.5 billion of investment. The company took its final investment decision on 12 November 2026.
Sources: Guyana Ministry of Natural Resources, press release of 12 November 2026; ExxonMobil, news release of 12 November 2026; Demerara Waves, 12 November 2026; Guyana Times, 13 November 2026.
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