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Guyana could surpass 1M barrels per day by year-end
…as Exxon announces early startup of 5th project
(Kaieteur News) – Guyana’s fifth oil project, Uaru is expected to startup before the end of 2026, ahead of schedule, which could push Guyana’s daily capacity well over one million barrels.
This was revealed by President of ExxonMobil Upstream Company, Dan Ammann during the Guyana Energy Conference and Supply Chain Expo which concluded at the Marriott Hotel on Friday.
In a keynote presentation earlier this week, the vice president of ExxonMobil Corporation provided key updates on the company’s future projects.
President of ExxonMobil Upstream Company, Dan Ammann
He said, “By the end of 2026, we expect Uaru to come online. That represents our fifth major Stabroek development with capacity of 250,000 barrels per day and that will boost Guyana’s daily oil production beyond one million barrels per day.”
Uaru was initially scheduled to come online in 2027. Currently, Guyana is producing about 900,000 barrels of oil per day (bpd) from four Floating Production Storage and Offloading vessels (FPSOs) that are operating in the Stabroek Block. The startup of the Uaru project will push Guyana’s total production capacity to almost 1.2 million barrels per day.
The company’s sixth project, Whiptail will add an additional 250,000 barrels per day by 2027, according to Ammann.
Exxon has already signalled its intention to the government of Guyana to increase production here to 1.7 million barrels per day by 2030. So far, the company has obtained regulatory approvals for seven projects. An eight application was made by the company and is currently pending review at the Environmental Protection Agency (EPA).
The vice president described Guyana’s energy story as “exceptional” to conference delegates, citing the government’s support as a key factor for the success.
According to him, “From a global perspective Guyana is not only for great resource, it is a new standard showing what can happen when a country pairs a world class resource with wise leadership and responsible stewardship.”
He pointed out, “In the upstream business, results matter and Guyana’s results are world class. In just under a decade from discovery, we’ve built a multi-project production system with four FPSOs producing and several more under development, and a record of delivering ahead of schedule and under budget and that does not happen by accident.”
Ammann added that President Irfaan Ali is well aware that oil alone does not translate to wealth, but requires critical factors for the economic transformation currently taking place in Guyana. As such, he boasted of Exxon’s technology development in deep-water, sustaining the company’s position decade after decade.
Just last week, Kaieteur News reported that construction activities on the fifth FPSO, Errea Wittu was making steady progress with mooring pre-installation activities now completed.
The contract for the construction of the vessel was awarded to Japanese shipbuilder Modec in November 2022.
The Uaru field is located 200 kilometres offshore Guyana at a depth of 1,750 metres. It is estimated to hold more than 800 million barrels of oil.
The Errea Wittu FPSO will produce 250,000 barrels of oil per day (bpd) and will have a gas treatment capacity of 540 million cubic feet per day. It will have a water injection capacity of 350,000 bpd, a produced water capacity of 300,000 bpd and a storage capacity of two million barrels of crude oil.
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