The Ministry of Natural Resources has set aside $118.9 million in its 2026 budget to cover the review of an imminent Field Development Plan (FDP) by ExxonMobil Guyana Limited for Longtail, its eighth project in the Stabroek block. This was disclosed by Natural Resources Minister, Vickram Bharrat on Tuesday evening during the consideration of his ministry’s estimates in the Committee of Supply.
The allocation forms part of a broader $203.9 million allocation under the ministry’s current expenditure programme. He clarified that the largest portion is specifically earmarked for the technical evaluation of the anticipated FDP.
The Longtail development is expected to produce between 1 billion and 1.5 billion cubic feet of natural gas per day, alongside 290,000 barrels per day of condensate at peak production. The project is estimated to start in 2030 and cost approximately US$13 billion.
Minister Bharrat explained that once Exxon submits the FDP, the ministry will engage a specialist consultant to conduct a comprehensive technical review before any production licence is granted.