Deals Counterparts

Exxon-led consortium's Errea Wittu FPSO nears completion for Guyana's Uaru offshore project

Development Oil Gas announced Guyana Mar 19, 2026
250000 barrels per day
Capacity
development
Stage
Errea Wittu FPSO
Project

The Exxon Mobil-led consortium's fifth floating production, storage and offloading (FPSO) platform, Errea Wittu, is nearing completion and is expected to soon depart from Singapore. Built by Japanese firm MODEC, the FPSO is designed to produce, store, and deliver up to 250,000 barrels per day from the Uaru offshore project in Guyana. This development is part of Exxon's strategy to accelerate oil and gas projects in Guyana, aiming to boost the country's crude output past 900,000 bpd and reach 1.7 million bpd by 2030. The vessel will undergo testing upon arrival in Guyanese waters before starting production, contributing significantly to Guyana's position as a top oil producer in South America.

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Source Intelligence

KEY DETAILS

Exxon expects its output capacity from all planned projects in Guyana to reach some 1.7 million bpd by 2030. The group's fourth project, Yellowtail, now produces 263,000 bpd. Exxon is evaluating nominees for an independent expert to resolve a cost dispute with the government. The company completed a $1 billion natural gas pipeline that is not yet operational. A second pipeline to Berbice could cost $2 billion. Benchmark Brent crude prices are over $110 a barrel, which may help Exxon recover up to $5 billion in costs this year instead of 2027.

Capacity
The floating production, storage and offloading (FPSO) platform Errea Wittu, being built by Japanese firm MODEC, would be the fifth to be installed by the Exxon group in Guyana. It will produce, store and deliver up to 250,000 barrels per day from the Uaru offshore project.
Location
It will produce, store and deliver up to 250,000 barrels per day from the Uaru offshore project.
Announcement
Published Mar 19, 2026 11:31 am ET
COD
It is not clear when the facility will arrive; Exxon had previously said arrival in Guyanese waters would happen later this year, without further details. Once it arrives, the vessel will need testing before it can begin production.
PARTIES MENTIONED IN SOURCE
E
Exxon Mobil developer

"A new floating production facility for a consortium led by Exxon Mobil in Guyana is nearly complete and expected to soon depart from Singapore, an executive said Thursday, part of the push to accelerate oil and gas projects in a country key to the U.S. oil giant's growth."

M
MODEC developer

"The floating production, storage and offloading (FPSO) platform Errea Wittu, being built by Japanese firm MODEC, would be the fifth to be installed by the Exxon group in Guyana."

high quality Enriched Mar 20, 2026

Timeline

Announced
Mar 19, 2026
Signed
Closed

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