Japanese floater specialist Modec has moved to secure yard space for building topsides modules for the floating production, storage and offloading vessel that ExxonMobil is planning to deploy on the Uaru field offshore Guyana.

The US supermajor is only expected to make a final investment decision on the Uaru development later this quarter.

However, Modec already has front-end engineering and design (FEED) studies for the FPSO and project fundamentals are so strong that sanction by ExxonMobil and its partners on the prolific Stabroek block are seen as a formality once final regulatory approvals are in place.