Exxon Uaru FPSO Lifts Guyana to 1.15M bpd

ExxonMobil's fifth Guyana offshore development is on pace to come online before year-end 2026, with the Errea Wittu floating production storage and offloading vessel completing its mooring pre-installation in February and the Uaru project's drilling, subsea and topsides workstreams all reported on schedule, according to operator updates and contractor filings reviewed for this report.

The 250,000 barrel per day FPSO, named for the Warrau word for "abundance," will join ExxonMobil's existing Stabroek block fleet of Liza Destiny, Liza Unity, Prosperity and ONE GUYANA. Once Uaru ramps to plateau, the Stabroek complex is expected to lift Guyana's national output from the current 900,000 bpd milestone, reached on November 12, 2025, to roughly 1.15 million bpd, per ExxonMobil's investor disclosures.

Errea Wittu mooring complete, hull en route from Singapore

Jumbo Offshore wrapped up the mooring line installation for the Errea Wittu FPSO in February 2026, completing one of the three critical path workstreams ExxonMobil tracks for any new Stabroek startup. The FPSO will be installed approximately 200 kilometres offshore in 1,690 metres of water, carrying gas treatment capacity of 540 million cubic feet per day and storage of approximately 2 million barrels of crude.

Contractor MODEC, which built the hull at China's Yantai shipyard, sailed the vessel to Singapore for topsides integration in mid-2025. The Errea Wittu is scheduled to make its trans-Atlantic crossing to the Stabroek block in the second half of 2026, mirroring the delivery profile that put Yellowtail's ONE GUYANA into production four months ahead of schedule in August 2025.

Stabroek partners include Chevron via Hess acquisition

ExxonMobil holds a 45 percent operator stake in the Stabroek block. The 30 percent Hess Guyana Exploration interest passed to Chevron Corporation in July 2024 when Chevron closed its $53 billion all-stock acquisition of Hess, making Guyana a core pillar of the combined company's deepwater portfolio. CNOOC Petroleum Guyana holds the remaining 25 percent stake.

The Uaru development carries a sanctioned capital budget of approximately $12.7 billion, with 10 drill centres and up to 44 wells targeting more than 800 million barrels of recoverable resource, according to the Offshore Technology project profile.

Guyana's 1.15M bpd milestone in global context

Once Uaru reaches plateau, Guyana's daily output will exceed Oman's average 1.0 million bpd, slot the country between Algeria and Norway among non-OPEC producers, and represent roughly 1.1 percent of total global liquids supply. The International Energy Agency, in its May 2026 Oil Market Report, flagged Guyana as one of three non-OPEC supply additions, alongside Brazil's pre-salt and Argentina's Vaca Muerta, that meaningfully blunt the supply tightness from the ongoing Strait of Hormuz disruption.

What comes after Uaru

ExxonMobil is sequencing two more developments behind Uaru. Whiptail, the sixth project, is also tracking ahead of its 2027 schedule, per the operator's most recent investor update. Hammerhead, the seventh development announced in September 2025, will add approximately 150,000 bpd when production begins in 2029. The operator has signaled an eighth development is in concept-select, putting ExxonMobil on track for the 1.7 million barrels of oil equivalent per day Stabroek capacity target by 2030.

For the integrated majors, Guyana remains the lone deepwater province where new sanctioned barrels can outpace base decline at a low double-digit per barrel breakeven. ExxonMobil disclosed in its most recent 8-K filing that Guyana production contributed an outsized share of upstream cash flow in the first quarter, even as Brent traded at a Hormuz-shocked premium.