Inspenet, November 16, 2023.
ExxonMobil announced last Tuesday the start of production at Payara, the third offshore oil development project in Guyana’s Stabroek Block. This advance brings the total production capacity in the country to around 620,000 barrels per day.
About the FPSO
The third floating production, storage and offloading (FPSO) unit, named Prosperity and supplied by SBM Offshore, began production ahead of schedule and is expected to reach initial production of approximately 220,000 barrels per day in the first half of next year as new wells come online.
This capacity increase represents the third significant achievement on the path to achieving combined production capacity in excess of 1.2 million barrels per day on the Stabroek Block by the end of 2027.
ExxonMobil plans that by the end of 2027, six floating production, storage and offloading (FPSO) units will be operational on the Stabroek block. The Yellowtail and Uaru projects, representing the fourth and fifth developments respectively, are underway and each is estimated to produce around 250,000 barrels of oil per day.
Likewise, the company stated that it is collaborating with the Guyanese government to obtain the corresponding regulatory approvals to carry out a sixth project in Whiptail. According to the oil company, developments in Guyana are achieving an approximately 30% reduction in greenhouse gas intensity compared to the average for ExxonMobil’s upstream portfolio.
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