Guyana’s Ministry of Natural Resources has rehired Bayphase to provide consultancy services for the review and evaluation of the Uaru field development plan.
Uaru is the fifth oil development in ExxonMobil’s Stabroek Block project pipeline.
Bayphase won the contract over Stratoil, the other firm shortlisted to review this proposed project.
The contract, awarded March 8, 2023, is valued US$797,480.
In addition to the development plan, Bayphase will also conduct a detailed assessment of the environmental and social impact assessment which was compiled by Acorn International.
Bayphase had also reviewed the development plan for Exxon’s fourth project, Yellowtail, which was approved in April 2022.
The Uaru project is estimated to cost US$12.7 billion. It will draw crude from the Uaru, Mako and Snoek fields, which contain an estimated recoverable resource of 1.3 billion barrels of oil-equivalent.
Uaru will utilise a subsea system connected to a floating production, storage and offloading (FPSO) vessel called Errea Wittu. It will have oil storage capacity of two million barrels, and oil production design rate of 250,000 barrels per day (bpd). The FPSO will be able to offload approximately one million barrels onto a tanker in a period of approximately 24 hours. It will be delivered by MODEC.
When added to the other projects expected to be operational in 2026, Uaru will take crude oil production offshore Guyana to 1.1 million bpd. ExxonMobil has a 45% operating stake in the project. Hess has 30%, and CNOOC has 25%.