Guyana is preparing for another major expansion of oil output, with the Uaru project set to start production in 2026. The development, located in the Stabroek Block, is the fifth project approved offshore the country.
It is expected to move the country’s production capacity to around 1.1 million barrels of oil per day.
Guyana reached a new high of 900,000 barrels per day this month when the Yellowtail development achieved peak production, demonstrating the rapid pace of its offshore growth.
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Uaru targets more than 800 million barrels of recoverable oil. The US$12.7 billion project will feature up to 10 drill centers and 44 wells. It is designed to produce 250,000 barrels of oil per day at peak.
Japanese contractor MODEC is constructing the Errea Wittu floating production, storage and offloading vessel for the development. The unit will process and store crude from the Uaru field once operations begin.
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The government highlighted two key upgrades in the Errea Wittu’s design. A combined-cycle gas turbine will supply power more efficiently and with lower greenhouse gas emissions. A closed-loop flare system will limit emissions during operations.
ExxonMobil is the operator of the Stabroek Block. It holds a 45% stake, with co-venturers Hess and CNOOC holding 30% and 25%, respectively.
