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Exxon Mobil (NYSE:XOM) and its companions stated Thursday they made a remaining funding determination to develop their fifth and costliest undertaking on Guyana’s offshore Stabroek block.
The $12.7B Uaru undertaking will produce ~250K bbl/day and price 27% greater than the earlier undertaking of equal dimension, reflecting rising prices.
The businesses stated the undertaking, focused for a 2026 startup, will embrace as much as 10 drill facilities and 44 manufacturing and injection wells aimed toward creating an estimated useful resource of greater than 800M barrels of oil.
Two FPSOs, the Liza Future and Liza Unity, are at present working offshore Guyana and produced 375K bbl/day of oil throughout Q1, with a 3rd FPSO, the Prosperity, anticipated to be operational later this 12 months, including 220K bbl/day of capability from the Payara improvement.
Exxon Mobil (XOM) made a remaining funding determination final 12 months on a fourth Guyana offshore undertaking, Yellowtail.
The Stabroek block partnership, which additionally contains Hess (HES) and China’s Cnooc, is searching for to carry Guyana’s manufacturing capability to greater than 1.2M bbl/day by year-end 2027.
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