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Guyana has taken another significant step in developing its vast offshore petroleum resources by approving the Longtail Project, according to the Jamaica Observer. The project represents a milestone for the South American nation as its first non-associated gas development, moving beyond the crude oil focus that has dominated its offshore sector to date.
The Ministry of Natural Resources granted a Petroleum Production Licence for the Longtail Field Development Plan, with operations to be led by ExxonMobil Guyana Limited in partnership with Hess Guyana Exploration Limited and CNOOC Petroleum Guyana Limited. The consortium will develop nine reservoirs within the Stabroek Block, utilising a newly constructed Floating Production, Storage and Offloading vessel capable of processing approximately 1.2 billion cubic feet of gas daily and producing up to 250,000 barrels of condensate.
The development is projected to yield roughly 776 million barrels of condensate over three decades, employing 27 production wells and 18 gas injection wells. Commercial production is anticipated to commence before the end of 2030, with the project incorporating full gas reinjection capabilities and infrastructure for eventual gas exports to support domestic and regional markets.
The approval includes comprehensive requirements for gas utilisation and export studies, examining reservoir performance, production forecasts, export timelines and potential markets. Safety and risk management systems for gas exports, along with FPSO base design specifications for gas export facilities, form part of the licensing conditions.
The Longtail Project aligns with President Irfaan Ali’s vision for a natural gas industrial hub in Berbice, complementing plans for a second offshore Gas-to-Energy pipeline. The industrial development is designed to supply electricity generation and support energy-intensive sectors including fertiliser production, alumina and mineral processing, and data centres, with the government anticipating increased investment, job creation and economic diversification beyond petroleum.
Guyana has emerged as one of the world’s fastest-growing oil producers in recent years, with multiple offshore discoveries in the Stabroek Block. The country’s petroleum sector has become central to its economic development strategy under President Irfaan Ali’s administration.
As a Caribbean neighbour and fellow oil-producing nation, Guyana’s energy sector developments carry implications for regional energy security, investment patterns and economic competition. The shift toward natural gas commercialisation and industrial diversification could influence broader Caribbean energy strategies and attract regional investment.
Sources and attribution
- Jamaica Observer
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