ExxonMobil sanctions deepwater Payara project offshore Guyana

Oct. 1, 2020
ExxonMobil and its partners have agreed to develop the deepwater Payara oil field offshore Guyana.

Offshore staff

IRVING, Texas – ExxonMobil and its partners have agreed to develop the deepwater Payara oil field offshore Guyana.

This will be the third project in the Stabroek block, with a projected cost of $9 billion, targeting around 600 MMboe of resources.

Production should begin in 2024 through the 220,000-b/d capacity FPSO Prosperity. ExxonMobil also plans 10 subsea drill centers and up to 41 wells (20 producers and 21 injectors).

SBM Offshore will construct, install, lease, and operate the Prosperity for a period of up to two years, after which ownership and operation will transfer to ExxonMobil’s subsidiary in Guyana.

The vessel, which will largely follow the design of the block’s second FPSO, Liza Unity, will be based on SBM Offshore’s Fast4Ward approach of a newbuild, multi-purpose hull combined with standardized topsides modules.

The Prosperity will be spread moored in a water depth of around 1,900 m (6,233 ft), with storage for 2 MMbbl of crude oil, associated gas treatment capacity of 400 MMcf/d, and water injection capacity of 250,000 b/d.

SBM Offshore is considering fabricating and coating of part of the light structural steel for the vessel in Guyana, and plans to employ Guyanese engineers as part of the Payara project team.

TechnipFMC will manufacture and supply Payara’s subsea production system, including 41 enhanced vertical deepwater trees and associated tooling, six flexible risers, 10 manifolds, and associated controls and tie-in equipment.

Liza Phase 2, the block’s second project, is on track to produce first oil by early 2022 through the 220,000-b/d capacity Liza Unity, currently under construction in Singapore. 

ExxonMobil said it was also evaluating additional development opportunities such as Redtail, Yellowtail, Mako and Uaru resources, and plans to have five drillships operating offshore Guyana by the end of this year. 

More than 2,000 Guyanese nationals are presently supporting project activities on and offshore, 50% more than in 2019, the company added. 

To date there have been 18 discoveries across the block, with estimated combined resources of more than 8 Bboe, sufficient for at least five FPSOs producing more than 750,000 b/d by 2026. 

Partners in the Stabroek block are Hess Guyana Exploration and CNOOC Petroleum Guyana.