ExxonMobil says its Guyana project rollout is being supported by a repeat-build approach that allows the company to apply one development model for floating production, storage and offloading (FPSO) vessels across multiple offshore projects.
Neil Chapman, Senior Vice President of ExxonMobil, said the company is using a “design one and build many” approach for its Guyana developments. He made the comments during the Bernstein 42nd Annual Strategic Decisions Conference on May 28.
“The key here has been the execution. We use this principle of ‘design one and build many, and that’s what we’re doing. And the execution of that from our project organization has been exceptional,” Chapman said.
Chapman said Guyana’s development has been driven by both exploration success and project delivery. SBM Offshore created Fast4Ward to standardize FPSO construction through a repeatable “design one, build many” model. Guyana became the first major test case for the program when Liza Unity, ExxonMobil’s second Stabroek Block production vessel, became the first FPSO built using the Fast4Ward design. The model was later carried into Prosperity, ONE GUYANA, and other SBM Offshore projects tied to ExxonMobil Guyana’s offshore development program.
“Guyana has been extraordinary. I think everybody understands that. I mean it’s not just about finding the crude oil, it’s about the execution capability,” he added. “We’re building the lowest-cost facilities in the deepwater, the industry has ever seen at the fastest pace that industry has ever seen.”
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ExxonMobil currently has four FPSOs producing offshore Guyana. Oil production from the four vessels exceeds 900,000 barrels per day. ExxonMobil has five more FPSOs planned for Guyana. The 250,000-barrel-per-day Uaru development is expected in the second half of 2026, followed by Whiptail in the second half of 2027. The company’s seventh and eighth FPSOs are expected in 2029 and 2030.
Guyana’s production capacity is expected to reach 1.7 million barrels per day by the end of 2030. ExxonMobil Guyana operates the Stabroek Block.
