ExxonMobil’s Payara Project: Fuelling Guyana’s Growth

ExxonMobil has kicked off production at the Payara, Guyana’s third offshore oil development on the Stabroek Block, boosting total production capacity in Guyana to about 620,000 barrels per day. The Prosperity floating, production, storage, and offloading (FPSO) vessel is set to hit initial production of around 220,000 barrels per day in the first half of next year as new wells come online. This added capacity marks the third major milestone towards achieving a combined production capacity of over 1.2 million barrels per day on the Stabroek Block by the end of 2027.

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

ExxonMobil Guyana expects to have six FPSOs in operation on the Stabroek Block by the end of 2027. The fourth and fifth projects, Yellowtail and Uaru, are in progress and will each produce about 250,000 barrels per day. The company is collaborating with the government of Guyana to secure regulatory approvals for a sixth project at Whiptail.

Prosperity, along with the Liza Unity, has been awarded the SUSTAIN-1 notation by the American Bureau of Shipping for the sustainability of its design, documentation, and operational procedures. ExxonMobil’s Guyana developments are producing around 30% lower greenhouse gas intensity than the average of ExxonMobil’s upstream portfolio. According to the independent research firm Rystad Energy, they are also among the best performing in the world in terms of emissions intensity, surpassing 75% of global oil and gas producing assets.

Approximately 6000 Guyanese are currently supporting ExxonMobil Guyana’s activities in the country, making up more than two-thirds of the local oil and gas workforce. Since operations began in 2015, the company and its direct contractors have spent over US$1.2 billion with more than 1500 Guyanese suppliers. Production commenced in December 2019.

ExxonMobil Guyana Limited operates the Stabroek Block and holds a 45% interest. Hess Guyana Exploration Ltd. holds a 30% interest, and CNOOC Petroleum Guyana Limited holds a 25% interest.