ExxonMobil starts up third FPSO in Guyana

GEORGETOWN, November 15, 2023 – ExxonMobil has begun production at the Payara play in Guyana ahead of schedule, the US energy giant announced on Tuesday.

The Prosperity FPSO is expected to reach production of around 220,000 bopd in H1 2024.

The vessel is ExxonMobil’s third FPSO on the prolific Stabroek concession following the Liza Destiny and the Liza Unity.

The company has six FPSOs planned for the block.

The upcoming Yellowtail and Uaru projects are expected to produce around 250,000 bopd each.

ExxonMobil is waiting for regulatory approval of the Whiptail development, its final planned project in the country.

Production from the Stabroek block is expected to hit more than 1.2 milllion bopd by then end of 2027.

The company is currently employing 6,000 Guyanese workers, which is more than two thirds of the local oil and gas workforce.

It has also spent more than USD 1.2 billion with Guyanese suppliers since it began operations in the country in 2015.

ExxonMobil operates the Stabroek block with a 45% stake, while partners Hess Corporation holds a 30% stake and China National Offshore Oil Corporation holds the remaining 25% stake.

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