IRVING, TX — Exxon Mobil and its partners have taken final investment decision on the Uaru Field development, the fifth in the Stabroek Block offshore Guyana, after obtaining government and regulatory approvals.
The $12.7 billion project will feature up to 10 drill centers and 44 production and injection wells tied back to a 250,000-bbl/d FPSO. It is due to start up in 2026. Exxon Mobil is targeting recovery of more than 800 MMbbl of oil.
MODEC is constructing the Errea Wittu FPSO under an EPC contract, with Exxon Mobil working with its suppliers, including nearly 1,000 in Guyana, to help reduce costs and accelerate development.
Currently two FPSOs are operating on the block, Liza Destiny and Liza Unity, producing on average 375,000 bbl/d. The Prosperity FPSO for the third development, Payara, should start operations later this year, adding 220,000 bbl/d.
The fourth project, Yellowtail, was approved last year and should start service in 2025, contributing a further 250,000 bbl/d.
Exxon Mobil aims to have six FPSOs online by the end of 2027, lifting Guyana’s production capacity above 1.2 MMbbl/d. Partner Hess, in its announcement, sees potential for up to 10 FPSOs to develop the estimated gross discovered recoverable resources across the block to date of more than 11 Bboe.
CNOOC Petroleum Guyana is the other partner.