Start-up works ongoing as new Prosperity oil platform arrives in Guyana

The Prosperity, the third oil platform that will operate in the prolific Stabroek block offshore Guyana, has arrived offshore Guyana and preparatory works have commenced to enable a year-end production start-up of the massive vessel. 

The arrival of the Prosperity Floating, Production, Storage, and Offloading (FPSO) vessel was announced on Tuesday morning via an ExxonMobil Guyana release. 

Prosperity was constructed by SBM Offshore as part of the Payara development, which is the third development within the giant Stabroek Block offshore Guyana. The block is shared by ExxonMobil (45% interest), Hess Corporation (30% interest) and the China National Offshore Oil Corporation (25% interest).

The vessel has an initial production capacity of around 220,000 barrels of oil per day and an overall storage volume of two million barrels. And production from the Prosperity vessel is expected to push daily production to some 600,000 barrels a day in 2024.

Installation campaigns are ongoing and development drilling is underway to support the Prosperity’s start-up later this year, the release noted. 

The Payara project area has an estimated 600 million oil-equivalent barrels of crude.

“The arrival of the Prosperity FPSO is a testament to the strong partnership between ExxonMobil Guyana, the government of Guyana, our co-venturers and the many suppliers that support our operations. We are excited to contribute to Guyana’s energy future and create lasting opportunities for the nation’s growth and prosperity,” ExxonMobil Guyana Production Manager Mike Ryan was quoted as saying.  

The Prosperity FPSO joins the Liza Destiny and Liza Unity FPSOs, which are currently producing more than 380,000 barrels per day.