The Prosperity floating production, storage, and offloading (FPSO) vessel is expected to set sail from the Keppel shipyard in Singapore in the first quarter of this year for Guyana where it will produce oil and gas for the next two decades.
Hess’ President and Chief Operating Officer, Greg Hill, said the development of the Payara project, for which Prosperity will be used, is 93% complete. It remains ahead of schedule.
Payara is the third project in the Stabroek Block and is expected to produce about 220,000 barrels of oil per day (bpd) after startup. Producing alongside Liza Phases 1 and 2, Payara will take production offshore Guyana to more than 580,000 bpd.
Is the third FPSO to be built and operated by SBM Offshore.
SBM Offshore aiming for ‘near-zero emissions FPSO’ by 2025 – CEO
Hess expects about 55,000-60,000 bpd net from Payara, due to its 30% stake.
Meanwhile, Hill said the fourth development, Yellowtail, is about 40% complete and remains on track for first oil in 2025. The hull for the ONE GUYANA FPSO, to be utilised for Yellowtail, is complete. Hill said it is expected to enter drydock in Singapore in April.
“Topside fabrication activities have commenced and module fabrication sites in Singapore and China and development drilling is underway,” Hill added.
The President also recalled that the development plan for the fifth project, Uaru, was submitted to Guyana authorities in November 2022, and that the sixth, Whiptail, is expected to be sanctioned early next year. By the time Whiptail achieves first oil, production offshore Guyana could be 1.3 million bpd.
ExxonMobil is the Stabroek Block operator with a 45% stake, while Hess owns 30% and CNOOC owns 25%.