Payara field offshore development, Guyana – update

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8th December 2023


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Name of the Project
Payara field offshore development.

About 193 km off the shore of Guyana, in waters 1 500 m to 1 900 m deep.

Project Owner/s
ExxonMobil Guyana operates the Stabroek Block and holds a 45% interest. Hess Guyana Exploration holds a 30% interest and CNOOC Petroleum Guyana a 25% interest.

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 (FPSO) 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 started production at Payara on November 14, bringing total production capacity in Guyana to about 620 000 bbl/d.

The Prosperity FPSO vessel is expected to reach initial production of about 220 000 bbl/d over the first half of 2024 as new wells come online. This additional capacity will be the third major milestone towards reaching a combined production capacity of more than 1.2-million barrels a day on the Stabroek Block by the end of 2027.

ExxonMobil Guyana anticipates six FPSOs will be in operation on the Stabroek Block by the end of 2027. Yellowtail and Uaru, the fourth and fifth projects, are in progress and will each produce about 250 000 bbl/d of oil. The company is working with the government of Guyana to secure regulatory approvals for a sixth project at Whiptail.

Prosperity joins the Liza Unity as two of the world’s first FPSOs to be awarded the SUSTAIN-1 notation by the American Bureau of Shipping in recognition of the sustainability of its design, documentation and operational procedures.

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.

Edited by Creamer Media Reporter



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