–environmental permit, production license to be completed within weeks, VP Jagdeo saysExxonMobil’s Uaru project could get ‘green light’ soon

THE environmental permit and production licence for ExxonMobil’s fifth project offshore Guyana, Uaru, will be completed within a few weeks’ time, Vice-President Dr. Bharrat Jagdeo has said.

Dr. Jagdeo, during a press conference at the Arthur Chung Conference Centre on Thursday, said that the review of the Uaru Project is practically completed, both by the Ministry of Natural Resources and the Environmental Protection Agency (EPA)

“So, the Uaru Project, that is going through a final review with the Ministry [of Natural Resources] staff, and we expect the minister, within a short period, maybe a maximum of about two to three weeks, the field development plan would be completed.

“The EPA also has its permit, and I gather that is near completion. So, I think that within the same timeline, they should be ready for the Uaru; both the EPA permit and the licences for that project,” Dr. Jagdeo said in response to questions about the project.

Exxon Mobil’s fifth project at the Uaru-Mako Field, in the prolific Stabroek Block offshore, is expected to be the largest yet in Guyana, with a proposed development cost of US$12.7 billion (G$2.6 trillion), according to the Environmental Impact Assessment (EIA) compiled by Acorn International.

Preceding projects in the Stabroek Block are the Liza I, Liza II, Payara, and Yellowtail developments. The Uaru-Mako Field is estimated to hold over 1.3 billion barrels of oil, and could produce as much as 263,000 barrels per day. Overall, the Stabroek Block has an estimated 11 billion barrels of oil.

The Uaru-Mako development project would be a sizeable investment in Guyana that will see approximately 38-63 development wells, installation and operation of sub-sea umbilicals, risers, and flowlines (SURF) equipment; installation and operation of a floating production, storage, and offloading (FPSO) vessel; and eventually, project decommissioning.

Exxon’s local subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), has already indicated plans to quickly move forward with the development of the project, once the necessary permits and licences are granted.

First oil for the Uaru-Mako Project is targetted for the end of 2026.

At peak, EEPGL will utilise approximately 1,200 personnel offshore during the stage where the wells are being drilled, and the offshore oil production facilities are being installed. This number, the company said, will decrease to less than 200 personnel during the production phase.