ExxonMobil starts production from third Guyana project - Upstream Online

ExxonMobil starts production from third Guyana project | Upstream Online

US supermajor ExxonMobil has initiated production at the Payara field, the company’s third development in the prolific Stabroek block offshore Guyana.

The Prosperity floating production, storage and offloading vessel is expected to reach plateau output of 220,000 barrels per day of oil in the first half of 2024 as new wells come online.

ExxonMobil already produces about 400,000 bpd in Guyana via the Liza Destiny and Liza Unity FPSOs on the giant Liza field.

“Each new project supports economic development and access to resources that will benefit Guyanese communities while also helping to meet the world’s energy demand,” ExxonMobil upstream president Liam Mallon said.

The Prosperity FPSO was the third floater manufactured and supplied by Netherlands-based player SBM Offshore to ExxonMobil in Guyana.

ExxonMobil expects to have six FPSOs in operation at Stabroek by the end of 2027, when output is forecast to top 1 million bpd.

Yellowtail and Uaru have already been sanctioned and are due to produce first oil in 2025 and 2026, respectively.

The company is now working with the Guyanese government to secure regulatory approvals for the sixth project — Whiptail.

ExxonMobil operates the Stabroek block with a 45% stake and is partnered by US independent Hess on 30% and China’s CNOOC Ltd on 25%.

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