The start-up of ExxonMobil Guyana’s third Stabroek Block development is imminent, with company President, Alistair Routledge confirming that the project will be up and running soon.
“We’re still on course to start off Payara by the end of this year. Great news. Super [happy about the] progress on the project… [It’s] well ahead of the original schedule which would have been mid-2024,” he told a news conference on October 17.
Exxon originally intended to bring Payara on stream in 2023, but delays owed to the five-month electoral impasse of 2020 pushed the estimated scheduled date for first oil to 2024 when the new government finally approved it in late 2020. They announced in April last year that the schedule for the Payara project had been amended.
Early delivery of Payara pushing Exxon 2023 CAPEX budget | OilNOW
Payara is expected to see a ramp-up to 220,000 barrels of oil per day (bpd) within a five-month period after production gets underway.
The Prosperity FPSO arrived in Guyana waters back in April this year.
It has a production capacity of around 220,000 barrels of oil per day and oil storage volume of two million barrels.
Production from the Prosperity vessel is expected to push oil output offshore Guyana to over 600,000 barrels a day in 2024. Two projects are currently in operation at the Liza field. They are all operated by ExxonMobil.
The US$9 billion development targets 600 million oil-equivalent barrels.
Read more about the project here: Payara development Fact Sheet
