The fifth development planned by ExxonMobil in Guyana is currently targeting the Uaru and Mako finds, but the project is likely to add an additional reservoir.
Just which one it will be is subject to determination as ExxonMobil sorts out the project characteristics of this development and finalises the field development plan.
This was revealed by Anthony Jackson, ExxonMobil’s in-country projects manager, during a recent public scoping meeting for the project.
This revelation is in-keeping with statements made during the most recent earnings call that the company is targeting larger field developments and bigger ships to maximise on each project. The Uaru Development Project is targeting 275,000 barrels per day (bpd), the highest production capacity of any FPSO planned for the Stabroek Block yet.
One attendee asked how long EEPGL expects the production peak, or the plateau, to last. Jackson said the duration of the plateau will not be determined until EEPGL decides which reservoir to add to this project,
“We expect that there will be an additional field that gets tagged on those two, depending on the reservoir that’s chosen will impact the production profile of the actual project,” he stated.
A lot of the project specifications will depend on the finalisation of the reservoirs to be tapped for this project, he said, and when the company submits the field development plan (FDP), it will include a preliminary expectation of production over time. He said this will give the best outlook for the production peak and the tail which will follow as production declines.
“We have had some preliminary engagements with the government, mainly the MNR and GGMC, on some of the preliminary FDP topics. We would love to be able to bring something to the government later this year or early next year but it’s really depending on how we progress through these initial phases,” Jackson said.
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The Uaru Development Project could achieve first oil as early as the fourth quarter of 2026.
The scoping meetings are meant to update the public on the environmental impact assessment (EIA) process. That study will be conducted by Acorn International.
The study will consider the likely effects of the project on air, biodiversity, water, society, and potential unplanned events (such as an oil spill). It will also consider the cumulative impact of all Stabroek Block projects.
