Ultra-deepwater oil operations involve drilling in water depths greater than 5,000 feet (1,524 meters), where production takes place far below the ocean surface using complex subsea systems linked to floating production, storage, and offloading (FPSO) vessels.
In Guyana, this activity is concentrated offshore in the Stabroek Block, where ExxonMobil operates major developments, including Liza 1, Liza 2, and Payara.
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The Environmental Protection Agency (EPA) has granted environmental permits for multiple projects, based on outlined drilling depths, subsea layouts, and operational safeguards linked to marine conditions and emissions control.
According to the EIAs, the Liza-1 well was drilled to 17,825 feet (5,433 meters) and the Payara-1 well to 18,080 feet (5,512 meters). Later projects, such as Liza 2, Uaru, and Whiptail, use similar designs, targeting depths of about 17,000-18,000 feet.
These ultra-deepwater conditions go beyond conventional offshore limits and require advanced drilling rigs and high-pressure subsea equipment. The combination of large recoverable resources and standardized FPSO deployment has made ultra-deepwater projects central to Guyana’s production model.
According to ExxonMobil, deepwater developments unlock large hydrocarbon resources once considered inaccessible but require advanced technology, high investment, and specialized expertise. For countries like Guyana, this supports rapid growth in output and revenue, while increasing exposure to global markets and the need for strong regulatory, environmental, and infrastructure systems.
A report published on April 16 by Wood Mackenzie said ExxonMobil’s offshore portfolio in Guyana ranks among the most commercially attractive deepwater developments globally. It also noted that major oil companies are increasing their focus on deepwater exploration because of the scale and value of these resources.
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Guyana remains among the world’s fastest-growing oil producers. Monthly output exceeded 900,000 barrels per day (b/d) in January 2026. When the fifth project, Uaru, comes on stream later this year, production is expected to surpass one million b/d.
