ExxonMobil has begun production of its third offshore Guyana project.

ExxonMobil began production at Payara, Guyana’s third offshore oil development on the Stabroek Block, today, raising the country’s total production capacity to around 620,000 barrels per day.

Prosperity, the company’s third FPSO, begins operations ahead of schedule and will add 220,000 barrels of oil per day.

ExxonMobil activities are supported by around 6,000 Guyanese.

As fresh wells come online, the Prosperity floating, production, storage, and offloading (FPSO) vessel is scheduled to attain initial production of roughly 220,000 barrels per day in the first part of next year. This extra capacity will be the third important step towards the Stabroek Block’s combined production capability of more than 1.2 million barrels per day by the end of 2027.

“Each new project supports economic development and access to resources that will benefit Guyanese communities while also helping to meet the world’s energy demand,” said Liam Mallon, president of ExxonMobil Upstream Company. “We’re pleased to work in partnership with the Guyanese government to make reliable energy accessible and sustainable.”

ExxonMobil Guyana expects six FPSOs to be operational on the Stabroek Block by the end of 2027. The fourth and fifth projects, Yellowtail and Uaru, are now under construction and will each generate around 250,000 barrels of oil per day. The company is collaborating with the Guyana government to get regulatory clearances for a sixth project at Whiptail.

The American Bureau of Shipping has awarded the SUSTAIN-1 notation to Prosperity and the Liza Unity as two of the world’s first FPSOs for the sustainability of their design, paperwork, and operational procedures. ExxonMobil’s Guyana developments emit around 30% less greenhouse gas than the average of ExxonMobil’s upstream portfolio. According to Rystad Energy, an independent research agency, they are also among the best performing in the world in terms of emissions intensity, outperforming 75% of worldwide oil and gas producing assets.

More than 6,000 Guyanese are now working for ExxonMobil Guyana, accounting for more than two-thirds of the local oil and gas workforce. Since operations began in 2015, the corporation and its direct contractors have spent more than $1.2 billion with over 1,500 Guyanese suppliers. Production began in December of 2019.

ExxonMobil Guyana Limited, which owns 45% of the Stabroek Block, operates it. Hess Guyana Exploration Ltd. owns 30% of the company, while CNOOC Petroleum Guyana Limited owns 25%.

SOURCE: https://corporate.exxonmobil.com/news/news-releases/2023/1114_guyana-oil-payara-exxonmobil-offshore