Exxon’s third project offshore Guyana set for early startup

The Payara development project, which is located offshore Guyana in the prolific Stabroek Block, is expected to start in late 2023 – sooner than the anticipated 2024 startup date.

This is according to a release from Hess Corporation, issued on Wednesday. This project has an expected capacity of 220,000 barrels of oil per day.

The corporation also noted that Payara will utilise a third oil ship known as the Prosperity Floating Production Storage and Offloading (FPSO) vessel.

Payara is the third project in the Stabroek Block; Esso Exploration and Production Guyana Limited (EEPGL), ExxonMobil’s local affiliate, is the operator at this block; Hess has a 30 per cent interest in the Stabroek Block.

In September 2020, the government approved this project with a series of recommendations which sees the government insisting, among other things, that routine flaring is strictly prohibited without the approval of the Environmental Protection Agency (EPA).

The $9 billion development will target an estimated resource base of about 600 million oil-equivalent barrels, ExxonMobil had said.

Ten drill centres are planned with up to 41 wells, including 20 production and 21 injection wells.

Production has already started at the Liza Phase 1 and 2 projects; the Liza Unity and Destiny FPSO vessels are in use at those projects.

Earlier this month, the Government of Guyana and EEPGL signed the production licence for the fourth development- Yellowtail. This project has a late 2025 startup date.