Guyana’s Next Development Targeting Close to One Billion Barrels of Oil

• Guyana is preparing for its next major step in offshore oil production with the Uaru development, ExxonMobil’s upcoming project in the Stabroek Block. Rather than opening a new frontier, Uaru deepens production in an already proven basin.
• The project is built around scale. More than 800 million barrels of recoverable oil are targeted, with an initial production target set at 250,000 barrels per day. Once production begins, Guyana’s national capacity is expected to move decisively past one million barrels per day.
• The development will use up to 10 drill centres tied to 44 wells, designed to sustain high output over the life of the field. At the centre of operations, there will be a new floating production, storage and offloading (FPSO) vessel.
• Japanese contractor MODEC is constructing the Errea Wittu FPSO, which will process and store crude produced from the Uaru field. The vessel introduces design changes that align with Guyana’s push for lower-emissions offshore production. Guyana’s Uaru and Whiptail projects are on track for a 2026 to 2027 start-up.
• Uaru will have two key upgrades. Power generation will come from a combined-cycle gas turbine, improving fuel efficiency and reducing greenhouse gas emissions. A closed-loop flare system will also be installed to limit flaring during routine operations.
• The project is operated by ExxonMobil, which holds a 45% interest in the Stabroek Block.  Meanwhile, Co-venturers Hess and CNOOC hold 30% and 25%, respectively.

(Source: OilNow Guyana)