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