ExxonMobil has taken a final investment decision (FID) for the Uaru development offshore Guyana after receiving required government and regulatory approvals. The US$12.7bn project, which is expected to add approximately 250,000 bbl/d of capacity after a targeted startup in 2026, will include up to 10 drill centers and 44 production and injection wells aimed at developing an estimated resource of more than 800 mbl of oil. MODEC is constructing the Floating Production Storage and Offloading (FPSO) vessel for the Uaru project, which will be called the Errea Wittu.
Two FPSOs, the Liza Destiny and Liza Unity, are currently operating offshore Guyana and produced an average of 375,000 bbl/d in the first quarter of 2023. A third FPSO, the Prosperity, is expected to be operational later this year, adding 220,000 bbl/d of capacity from the Payara development. ExxonMobil made a FID on the fourth offshore project, Yellowtail, in 2022. The company is targeting to have six FPSOs online by the end of 2027, bringing Guyana’s production capacity to more than 1.2 mb/d.