GEORGETOWN, Guyana, CMC – ExxonMobil Tuesday said it has started production at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity to approximately 620,000 barrels per day.
In a statement, the oil company said the Prosperity floating, production, storage, and offloading (FPSO) vessel is expected to reach initial production of approximately 220,000 barrels per day over the first half of next year as new wells come online.
“This additional capacity will be the third major milestone towards reaching a combined production capacity of more than 1.2 million barrels per day on the Stabroek Block by year-end 2027.”
President of ExxonMobil Upstream Company, Liam Mallon, said each new project supports economic development and access to resources that will benefit Guyanese communities while helping meet the world’s energy demand.
“We’re pleased to work in partnership with the Guyanese government to make reliable energy accessible and sustainable,” he added.
ExxonMobil Guyana anticipates six FPSOs will operate on the Stabroek Block by the end of 2027.
“Yellowtail and Uaru, the fourth and fifth projects, are in progress and will each produce approximately 250,000 barrels of oil daily. The company is working with the government of Guyana to secure regulatory approvals for a sixth project at Whiptail.”
The oil and gas company said that Prosperity joins the Liza Unity as two of the world’s first FPSOs to be awarded the SUSTAIN-1 notation by the American Bureau of Shipping to recognize the sustainability of its design, documentation, and operational procedures. “ExxonMobil’s Guyana developments are generating around 30 percent lower greenhouse gas intensity than the average of ExxonMobil’s upstream portfolio. According to the independent research firm Rystad Energy, they are among the best performing in the world concerning emissions intensity, outpacing 75 percent of global oil and gas-producing assets.
“Some 6,000 Guyanese are now supporting ExxonMobil Guyana’s activities in the country, representing more than two-thirds of the local oil and gas workforce,” the statement said, adding that the company and its direct contractors have spent more than GUY$1.2 billion (One Guyana dollar=US$0.004 cents) with more than 1,500 Guyanese suppliers since operations began in 2015.
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