Name of the Project
Payara field offshore development.

Location
Payara is located about 193 km off the shore of Guyana in waters 1 500 m to 1 900 m deep.

Project Owner/s
Esso Exploration and Production Guyana, a subsidiary of ExxonMobil, is the operator of the project and holds a 45% interest in the Stabroek Block. Hess Guyana Exploration holds 30% and CNOOC Petroleum Guyana, a wholly owned subsidiary of CNOOC, holds 25 25%.

Project Description
The current discovered recoverable resources of the 26 800 km² Stabroek Block are estimated at more than eight-billion oil-equivalent barrels.

Payara is the third project in the Stabroek Block.

The development will target an estimated resource base of about 600-million oil-equivalent barrels. Ten drill centres are planned, along with up to 41 wells, including 20 production and 21 injection wells.

The project is expected to produce up to 220 000 bbl/d of oil using the Prosperity floating production, storage and offloading vessel.

Potential Job Creation
Not stated.

Capital Expenditure
The development is expected to cost $9-billion to develop.

Planned Start/End Date
The project is scheduled to start in 2024.

Latest Developments
ExxonMobil made its final investment decision to proceed with the Payara field offshore development in September 2020 after receiving government approvals.

Key Contracts, Suppliers and Consultants
TechnipFMC (subsea system, including 41 enhanced vertical deep-water trees and associated tooling, six flexible risers and ten manifolds, along with associated controls and tie-in equipment).

Contact Details for Project Information
ExxonMobil, tel +1 972940 6007.