This work presents a computational analysis of the heat-exchange characteristics in a double-cylinder (also known as a double-pipe) geometrical arrangement. The heat-exchange is from a hotter viscoelastic fluid flowing in the core (inner) cylinder to a cooler Newtonian fluid flowing in the shell (outer) annulus. For optimal heat-exchange characteristics, the core and shell fluid flow in opposite directions, the so-called counter-flow arrangement.The mathematical modelling of the given problem reduces to a system of nonlinear coupled Partial Differential Equations (PDEs). Specifically, the rheological behaviour of the core fluid is governed by the Giesekus viscoelastic constitutive model. The governing system of coupled nonlinear PDEs is intractable to analytic treatment and hence is solved numerically using Finite Volume Methods (FVM). The FVM numerical methodology is implemented via the open-source software package OpenFOAM. The numerical methods are stabilized, specifically to address numerical instabilities arising from the High Weissenberg Number Problem (HWNP), via a combination of the Discrete Elastic Viscous Stress Splitting (DEVSS) technique and the Log-Conformation Reformulation (LCR) methodology. The DEVSS and LCR stabilization techniques are integrated into the relevant viscoelastic fluid solvers. The novelties of the study center around the simulation and analysis of the optimal heat-exchange characteristics between the heated Giesekus fluid and the coolant Newtonian fluid within a double-pipe counter-flow arrangement. Existing studies in the literature have either focused exclusively on Newtonian fluids and/or on rectangular geometries. The existing OpenFOAM solvers have also largely focused on non-isothermal viscoelastic flows. The relevant OpenFOAM solvers are modified for the present purposes by incorporating the energy equation for viscoelastic fluid flow. The flow characteristics are presented qualitatively (graphically) via the fluid pressure, temperature, velocity, and the polymer-stress components as well as the related normal stress differences. The results illustrate the required decrease in the core fluid temperature in the longitudinal direction due to the cooling effects of the shell fluid, whose temperature predictably increases in the counter-flow direction.