Monday, February 6, 2023

First Payara Development well spudded, overall project 45% complete

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The hull for the Prosperity FPSO, Guyana’s 3rd oil production vessel, is complete and will enter the Keppel shipyard in Singapore following the sail away of the Liza Unity later this month. The Prosperity FPSO will be producing oil at the Stabroek Block where U.S. oil major ExxonMobil is operator. The vessel will join the Unity and Destiny FPSOs, all built and operated by Dutch floater specialist, SBM Offshore.

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Greg Hill, Chief Operations Officer of Hess Corporation, a 30% stakeholder in the Stabroek Block, updated investors on July 28 about the progress of work on the Prosperity FPSO and preparations for the Payara Development, where it will be spread moored.

“Topsides fabrication has commenced at Dyna-Mac and development drilling began in June,” Hill said. “The overall project is approximately 45% completed. The Prosperity will have a gross production capacity of 220 thousand barrels of oil per day and is on track to achieve first oil in 2024.”

The first Payara development well was spudded in June 2021, and the offshore SURF installation will begin in the third quarter of 2021.

SBM Offshore announced in June that it had completed the project financing for the Prosperity FPSO which totals US$1.05 billion.

The vessel will utilize a design that largely replicates the design of the Liza Unity FPSO which is based on SBM Offshore’s industry leading Fast4Ward program that incorporates the company’s new build, multi-purpose hull combined with several standardised topsides modules.

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This FPSO will be designed to produce 220,000 barrels of oil per day, will have an associated gas treatment capacity of 400 million cubic feet per day and water injection capacity of 250,000 barrels per day. The vessel will be spread moored in a water depth of about 1,900 meters and will be able to store around 2 million barrels of crude oil.

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