HGP NIGHTLY NEWS – Guyana is moving closer to producing more than one million barrels of oil per day following the arrival of its fifth FPSO, the Errea Wittu.
The vessel will operate at the Uaru development in the Stabroek Block.
First oil is expected in September.
The US$12.7 billion Uaru project is targeting more than 800 million barrels of recoverable resources.
Natural Resources Minister Vickram Bharrat described the vessel’s arrival as another milestone for the country’s petroleum sector.
Guyana is currently producing about 900,000 barrels of oil per day from the Stabroek Block.
Production from Uaru is expected to push that figure beyond the one-million-barrel mark.
Bharrat said the government remains committed to transparency in managing oil revenues.
He also pointed to continued efforts to create more opportunities for Guyanese workers and businesses through local content.
The Stabroek Block is operated by ExxonMobil Guyana Limited, which holds a 45% interest. Chevron holds 30%, while CNOOC Petroleum Guyana Limited holds the remaining 25%.
