Guyana grants eighth offshore oil development

GEORGETOWN, Guyana (CMC)—The Guyana government has approved its eighth offshore petroleum development, granting a production licence for the Longtail Project, which will become the country’s first non-associated gas (NAG) development.

The Ministry of Natural Resources said the approval covers the Longtail Field Development Plan (FDP) and the issuance of the corresponding Petroleum Production Licence (PPL), marking a step towards the development and commercialisation of Guyana’s natural gas resources.

The project will be operated by ExxonMobil Guyana Limited, alongside co-venturers Hess Guyana Exploration Limited and CNOOC Petroleum Guyana Limited, and will target nine reservoirs in the Stabroek Block.