The Guyana-Suriname basin is projected to add 950,000 barrels of oil per day (b/d) to market supply, with four projects to come on stream in the period 2025-2028. One floating production, storage and offloading (FPSO) vessel will start operations each year in the period.
1. ONE GUYANA (Yellowtail project)
– Developers: ExxonMobil, Hess, and CNOOC.
– Builder: SBM Offshore.
– Target Reservoirs: Yellowtail and Redtail.
– Oil Production Capacity: 250,000 barrels per day.
– Expected Delivery Date: 2025.
– Project Cost: US$10 billion.
2. Errea Wittu (Uaru project)
– Developers: ExxonMobil, Hess, and CNOOC.
– Builder: MODEC
– Target Reservoirs: Uaru, Mako, and Snoek.
– Oil Production Capacity: 250,000 barrels per day.
– Expected Delivery Date: 2026.
– Project Cost: US$12.7 billion.
3. Jaguar (Whiptail project)
– Developers: ExxonMobil, Hess, and CNOOC.
– Builder: SBM Offshore
– Target Reservoirs: Whiptail, Pinktail, and Tilapia.
– Oil Production Capacity: 250,000 barrels per day.
– Expected Delivery Date: 2027.
– Project Cost: US$12.9 billion.
– Developers: TotalEnergies, APA.
– Delivered by: TBD
– Target Reservoirs: Spakara South, Krabdagu.
– Oil Production Capacity: 200,000 barrels per day.
– Expected Delivery Date: 2028.
– Project Cost: US$9 billion.
The ExxonMobil-operated Whiptail project and TotalEnergies’ Suriname project have not been sanctioned yet. The Guyana government is expected to approve Whiptail in the first quarter of 2024, and Total’s development plan is expected to be submitted later this year.
