ExxonMobil Guyana Advances Fifth Offshore Guyana Development
- 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 additional investment in Guyana’s growing
ExxonMobil 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 approximately 250,000
barrels of daily capacity after a targeted startup in 2026.
“Our fifth, multi-billion-dollar investment in Guyana
exemplifies ExxonMobil’s long-term commitment to the country’s
sustained economic growth,” said Liam Mallon, president of the
ExxonMobil Upstream Company. “Our Guyana investments and unrivalled
development success continue to contribute to secure, reliable
global energy supplies at this critical time.”
The $12.7 billion Uaru project plans to include up to 10 drill
centers and 44 production and injection wells aimed at developing
an estimated resource of more than 800 million barrels of oil.
MODEC is constructing the Floating Production Storage and
Offloading (FPSO) vessel for the Uaru project, which will be called
the Errea Wittu. ExxonMobil is utilizing its diversified supplier
base to help reduce costs and safely accelerate development in its
Guyana operations. The company’s diverse supplier base includes
nearly 1,000 unique local Guyanese suppliers, exemplifying Guyana’s
growing in-country supply chain capabilities.
Two FPSOs, the Liza Destiny and Liza Unity, are currently
operating offshore Guyana and safely produced an average of 375,000
barrels of oil per day in the first quarter. A third FPSO, the
Prosperity, is expected to be operational later this year, adding
220,000 barrels of daily capacity from the Payara development.
ExxonMobil made a final investment decision on the fourth offshore
project, Yellowtail, last year. The company is targeting to have
six FPSOs online by the end of 2027, bringing Guyana’s production
capacity to more than 1.2 million barrels per day.
ExxonMobil’s Guyana developments are generating around 30% lower
greenhouse gas intensity than the average of ExxonMobil’s upstream
portfolio. According to the independent research firm Rystad
Energy, they are also among the best performing in world with
respect to emissions intensity, outpacing 75% of global oil and gas
ExxonMobil affiliate Esso Exploration and Production Guyana
Limited is operator and holds 45% interest in the Stabroek Block.
Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum
Guyana Limited holds 25% interest.
ExxonMobil, one of the largest publicly traded international
energy and petrochemical companies, creates solutions that improve
quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product
Solutions and Low Carbon Solutions - provide products that enable
modern life, including energy, chemicals, lubricants, and lower
emissions technologies. ExxonMobil holds an industry-leading
portfolio of resources, and is one of the largest integrated fuels,
lubricants and chemical companies in the world.
In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas
emission-reduction plans for 2030 for operated assets, compared to
2016 levels. The plans are to achieve a 20-30% reduction in
corporate-wide greenhouse gas intensity; a 40-50% reduction in
greenhouse gas intensity of upstream operations; a 70-80% reduction
in corporate-wide methane intensity; and a 60-70% reduction in
corporate-wide flaring intensity.
With advancements in technology and the support of clear and
consistent government policies, ExxonMobil aims to achieve net-zero
Scope 1 and 2 greenhouse gas emissions from its operated assets by
2050. To learn more, visit exxonmobil.com, the Energy Factor, and
ExxonMobil’s Advancing Climate Solutions.
Follow us on Twitter and LinkedIn.
Statements related to outlooks; projections; descriptions of
strategic, operating, and financial plans and objectives;
statements of future ambitions and plans; and other statements of
future events or conditions, are forward-looking statements.
Forward-looking statements are based on current expectations,
estimates, projections and assumptions at the time the statements
are made. Actual future results, including project plans,
schedules, costs, returns, and capacities; ultimate recoveries;
operating performance and demand projections could differ
materially due to changes in market conditions affecting the oil
and gas industry or long-term oil and gas price levels; political
or regulatory developments; reservoir performance; timely
completion of development projects; technical or operating factors;
the outcome of future commercial negotiations, including final
agreed terms and conditions; unforeseen technical or operating
difficulties and unplanned maintenance; and other factors discussed
under the heading "Factors Affecting Future Results" in the
Investor Information section of our website (www.exxonmobil.com)
and in Item 1A of our most recent Form 10-K. The term "project" as
used in this release can refer to a variety of different activities
and does not necessarily have the same meaning as under any
government payment transparency reports.
version on businesswire.com: https://www.businesswire.com/news/home/20230427005677/en/
Media Relations 972-940-6007
Grafico Azioni Exxon Mobil (NYSE:XOM)
Da Ago 2023 a Set 2023
Grafico Azioni Exxon Mobil (NYSE:XOM)
Da Set 2022 a Set 2023