Stratoil, an Egypt-based oilfield services company was among three that entered bids to evaluate the field development plan (FDP) for ExxonMobil’s fifth Stabroek Block project – Uaru.
Bayphase Ltd. and De Godhyer & Mac Naughton were the other two.
Bayphase had won the contract to review Exxon’s fourth development plan for the US$10 billion Yellowtail project.
The selected firm will need to conduct a detailed assessment of the Uaru concept selection process and FDP and the environmental and social impact assessment.
Funding for the FDP review will come from a US$20 million World Bank (WB) loan for the Guyana Petroleum Resources Governance and Management Project (GPRGMP). Earlier this year, GY$88 million was set aside in the national budget to support this activity.
The Uaru development targets approximately 1.319 billion oil-equivalent barrels, making it the largest project expected offshore Guyana thus far. It will tap into the Uaru, Mako and Snoek fields in the eastern portion of the Stabroek Block. The project is expected to produce 250,000 barrels per day (bpd), representing one of the world’s highest production levels from a single floating unit.
ExxonMobil is expected to submit the plan before the end of the year. The project is part of its plan to have six projects in simultaneous operation in the Stabroek Block, producing 1.2 million barrels per day by 2027.