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