Oil & Fuel OilIndustry news

MODEC’s FPSO reaches Guyana as ExxonMobil’s fifth oil project nears start-up

The FPSO Errea Wittu has arrived in Guyanese waters to prepare for production at the Uaru field, marking the Japanese firm's first deployment in the Stabroek block.

By Editorial DeskPublished Updated
MODEC’s FPSO reaches Guyana as ExxonMobil’s fifth oil project nears start-up
Photo: Offshore Energy

Japan's MODEC has confirmed the arrival of the FPSO Errea Wittu in Guyana, where it will undergo final commissioning before beginning operations. According to Offshore Energy, the vessel is designated for ExxonMobil's fifth project in the Stabroek block, which integrates the Mako, Snoek, and Uaru resources. The unit is expected to start up in September 2026, with the first oil production from the Uaru field scheduled for the final quarter of that year.

The vessel utilizes a new double-hull design and features a gas turbine combined cycle system to lower carbon emissions. It is equipped with artificial intelligence to monitor equipment health and enhance process safety. Positioned approximately 200 kilometers offshore in 1,690 meters of water, the facility is capable of storing 2 million barrels of crude oil and processing 250,000 barrels per day.

Soichi Ide, a senior executive at MODEC, stated that the project's progress "reflects our continued commitment to delivering offshore energy solutions safely" while utilizing technical expertise from decades of global operations. Beyond the initial delivery, the Japanese company will provide ongoing maintenance and operational services for the unit as part of a long-term agreement with the block operator.

ExxonMobil Guyana leads the $12.7 billion Uaru development with a 45 percent stake, alongside partners Hess Guyana Exploration and CNOOC Petroleum Guyana. The field is estimated to contain over 800 million barrels of oil. This deployment precedes further planned projects in the region, including the Whiptail, Hammerhead, and Longtail developments which are currently in various stages of engineering and approval.

Source. Reporting by Offshore Energy. This brief was written by the Trade Flow Insight desk from that reporting; facts and figures are attributed to the original publication.

Editorial DeskTrade Flow Insight. Reporting and market notes compiled by the Trade Flow Insight editorial team.

Related coverage

QUIETHORMUZCRUDETRADE FLOW INSIGHT
Oil & Fuel OilIndustry news

‘Quiet’ Hormuz crude flow, lack of products have split oil market: TotalEnergies CEO

Crude oil is “very quietly” moving through the Strait of Hormuz at a premium of about $10/b, but products are not, leading to a “very strange” market dynamic with bearish crude and bullish fuel, TotalEnergies CEO Patrick Pouyanne said Aug. 24, while restating the company’s commitment to the Middle East. Speaking at the ONS oil ...

Helena Marsh

LNG Bunker Snapshot: Singapore LNG bunker price surges amid Middle East supply concerns
Oil & Fuel OilIndustry news

LNG Bunker Snapshot: Singapore LNG bunker price surges amid Middle East supply concerns

Rotterdam Rotterdam’s LNG bunker price has jumped by $70/mt, mirroring gains in the front-month Dutch TTF natural gas contract. Over the past week, TTF has climbed by around 6% to $22.41/MMBtu ($1,165/mt). The latest rally in TTF prices has been driven by the escalating US-Iran tensions and growing concerns over energy shipments through the Strait ...

Editorial Desk

KCC Second Quarter 2026 – Solid Q2 financials driven by strong markets and operations amidst geopolitical turmoil
Oil & Fuel OilIndustry news

KCC Second Quarter 2026 – Solid Q2 financials driven by strong markets and operations amidst geopolitical turmoil

Klaveness Combination Carriers ASA (“KCC”) reported EBITDA of USD 38.5 million and Profit after tax of USD 20.8 million for the second quarter of 2026, representing a strong improvement from the first quarter. Fleet average TCE earnings [1] increased by $4,350/day to $37,782/day from Q1 to Q2. This was supported by tighter, though very volatile, ...

Editorial Desk

Trade Flow Insight Daily

Markets, cargoes and company news — every morning

A concise briefing on commodity trading, energy, fuel oil, shipping and logistics. Free, no spam, unsubscribe any time.