The floating production, storage and offloading vessel (FPSO), known as Errea Wittu, will be the fifth such installation supporting Exxon’s operations offshore Guyana. Built by MODEC, the facility is designed to produce up to 250,000 barrels of oil per day from the Uaru project, further expanding the country’s output capacity.
Since launching crude production in 2019, Guyana has quickly scaled output to more than 900,000 barrels per day, transforming itself into one of South America’s leading oil producers. The addition of the new vessel could push production even higher—potentially surpassing that of neighboring Venezuela once the Uaru project comes online.
Exxon has outlined plans to raise its total production capacity in Guyana to about 1.7 million barrels per day by 2030, underlining the country’s strategic importance to the company’s global growth ambitions.
While a firm arrival date for the vessel has not been disclosed, the company previously indicated it would reach Guyanese waters later this year. Before production begins, the FPSO will undergo testing and commissioning.
Meanwhile, output from the Yellowtail development—Exxon’s fourth project in the country—has already reached about 263,000 barrels per day, helping lift national production to roughly 916,000 barrels per day as of January. Plans are underway to further expand Yellowtail’s capacity to around 290,000 barrels per day.
The expansion push comes amid elevated global oil prices, with benchmark Brent crude trading above $110 per barrel following geopolitical tensions in the Middle East. Higher prices are expected to allow Exxon to recover up to $5 billion in project costs in Guyana this year—significantly earlier than initially projected.
However, the company continues to face a cost-recovery dispute with the Guyanese government and is in the process of selecting an independent expert to help resolve the issue.
Looking ahead, Exxon is planning a steady pipeline of new developments. The sixth project, Whiptail, is targeted for startup by 2027, while efforts are underway to accelerate the seventh project, Hammerhead, to 2028—earlier than originally scheduled. Additional project proposals are expected to be submitted for approval in the coming year.
Beyond oil, Guyana is also pushing for increased natural gas development to support domestic industries such as power generation and petrochemicals. Although Exxon has completed a $1 billion gas pipeline, it is not yet operational, and plans for a second, larger pipeline—estimated to cost about $2 billion—are still under consideration.
Together, these developments highlight the pace and scale of Guyana’s transformation into a major energy hub, driven largely by Exxon’s expanding offshore portfolio.