American oil giant, ExxonMobil has won an award for the rapid speed its affiliate ExxonMobil Guyana was able to develop Liza Phase 1 in the country’s prolific Stabroek Block.
ExxonMobil said last evening that it made a final investment decision for the Uaru development offshore Guyana after receiving the required government and regulatory approvals. The company expects Uaru, the fifth project on Guyana’s offshore Stabroek block, to add approximately 250,000 barrels of daily capacity after a targeted startup in 2026.
Uaru project receives government approvals; production targeted to begin in 2026
Fifth Stabroek block development will have daily production capacity of around 250,000 barrels
$12.7 billion of. | April 27, 2023
ExxonMobil has made a final investment decision for the Uaru development offshore Guyana after receiving required government and regulatory approvals. The company expects Uaru, the fifth project on Guyana’s offshore Stabroek block, to add approx. 250,000 barrels of daily capacity after a targeted startup in 2026.