Investing.com -- Exxon Mobil's fifth floating production facility in Guyana is nearing completion and will arrive in the South American country ahead of schedule, the company's country chief said Thursday.

The floating production, storage and offloading platform Errea Wittu is being built by Japanese firm MODEC in Singapore and is set to depart soon for Guyanese waters. The vessel will produce, store and deliver up to 250,000 barrels per day from the Uaru offshore project.

Alistair Routledge, head of Exxon in Guyana, told reporters Thursday that current high crude prices could allow the company to recover costs in the country this year, earlier than the original 2027 forecast.

Exxon is on track to start its next project, Whiptail, by the end of 2027. The company is working to accelerate the startup of its seventh project, Hammerhead, for 2028, originally scheduled to begin in 2029, Routledge said.

The company's ninth project in Guyana will focus on the Haimara discovery, with Exxon planning to submit the project plan for government approval by next year, according to Routledge.

A gas pipeline to Guyana's Berbice region could cost $2 billion, an Exxon executive said.