ExxonMobil affiliate and Stabroek Block operator, Esso Exploration and Production Guyana Limited (EEPGL) has agreed to provide Guyana with real-time access to data pertaining to the Uaru Development Project. The level of compliance expected by Guyanese regulators is explicitly outlined in the Uaru Petroleum Production Licence awarded on April 27, 2023.
That document states that the licensee shall submit daily, monthly, semi-annual and annual production, injection, and petroleum utilisation reports to the Minister. EEPGL must also ensure that the minister has consistent, daily twenty-four-hour ongoing ‘real-time’ access, at a commercially reasonable level of system uptime, to production and injection activity outputs, reports or statements, in respect of the Uaru Project production including such particulars in such form and manner as the Minister may direct from time to time.
The licence also states that the semi-annual production report shall detail all matters pertaining to production optimisation for the Uaru Project. The report, at minimum, has to include details on the production optimisation efforts undertaken for the previous six months to examine how optimisation of the developments may affect reservoir stability, quality and productivity over time. It also has to detail the respective outcomes with evidence to support the optimisation success or failure, and production optimisation plans for the forthcoming six months.
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The licence also notes that EEPGL must also submit to the minister, a report detailing estimated production quantities over the following calendar year for each producing reservoir, no later than 60 calendar days in advance of the beginning of each calendar year.
The licensee is also expected to facilitate and fully cooperate with reviews of production optimisation reports for the Uaru Project, the first of which is expected to commence two years after start-up.
The Uaru project is expected to cost US$12.7B and produce 812 million barrels of oil equivalent resources over a 20-year period. It will utilize a floating, production, storage and offloading (FPSO) vessel, Errea Wittu, which will produce 250,000 barrels of oil per day at peak. First oil is anticipated for the second quarter of 2027.
