Though still in the planning stages, ExxonMobil Guyana has indicated that its Uaru Project in the Stabroek Block is expected to carry similar development and production characteristics as its massive US$10B Yellowtail venture.
According to ExxonMobil Guyana in its Environmental Impact Assessment (EIA) for Yellowtail, both projects are expected to be located in the eastern half of the Stabroek Block near previous exploration discoveries. Its report said Uaru will be similar to the Yellowtail Development Project floating, production, storage and offloading (FPSO) vessel in terms of size/capacity.
SBM Offshore is the builder and operator of all the confirmed FPSOs for Exxon’s operations in Guyana so far with two producing oil – Liza Destiny and Unity, and two more at varying degrees of construction – Prosperity and One Guyana.
OilNOW previously reported that the Yellowtail FPSO, One Guyana, will have a production capacity of approximately 250,000 barrels of oil per day. At peak production, the FPSO will offload oil to conventional tankers approximately every 4 – 6 days.
Additionally, the project is anticipated to produce an average of approximately 6,600,000 -7,500,000 barrels of crude oil per month. In comparison, the Liza Destiny FPSO is designed to produce around 3,600,000 barrels per month.
Exxon said too that Uaru is expected to be similar to Yellowtail in terms of development well count including production, water injection, and gas re-injection wells.
The EIA notes that the estimated timeline for the Uaru Development Project includes drilling and installation activities starting during 2025, pending regulatory and government approvals. Production operations are slated to start in 2026.
During its earnings call for the first quarter of 2022, Hess Corporation, which holds a 30 percent working interest in the Stabroek Block, disclosed that front-end engineering and design work for the fifth development at Uaru-Meco is underway. Hess said it anticipates that Exxon will be in a position to submit a plan of development to the government by year-end.