Oil production soars to 620,000 bpd as Payara kicks off production in Stabroek Block

– supported by 6000 Guyanese

ExxonMobil commenced production on Tuesday at the Payara Petroleum Production Licence area – Guyana’s third offshore oil development on the Stabroek Block, thereby bringing total production capacity in Guyana to approximately 620,000 barrels per day (bpd).
Utilising the Prosperity floating production, storage and offloading (FPSO) vessel, it is expected to reach initial production of approximately 220,000 bpd over the first half of next year as new wells come online.
This development was approved in September 2020 and sanctioned the production of more than 600 million barrels of oil from the Payara field. Announcing the news in a statement, the company shared that 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 noted amid this development, “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.”
“We’re pleased to work in partnership with the Guyanese Government to make reliable energy accessible and sustainable.”
The Prosperity FPSO is the third project on the Stabroek Block and follows the Liza Destiny and Liza Unity production vessels which came online in December 2019 and February 2022, respectively.
ExxonMobil Guyana anticipates six FPSOs will be in operation on the Stabroek Block by year-end 2027. Yellowtail and Uaru, the fourth and fifth projects, are in progress and will each produce approximately 250,000 barrels of oil per day. The company is working with the Guyana Government to secure regulatory approvals for a sixth project at Whiptail.
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 in recognition of the sustainability of its design, documentation, and operational procedures. ExxonMobil Guyana’s developments are generating around 30 per cent 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 with respect to emissions intensity, outpacing 75 per cent of global oil and gas-producing assets.
However, some 6000 Guyanese are now supporting ExxonMobil Guyana’s activities in the country, representing more than two-thirds of the local oil and gas workforce. The company and its direct contractors have spent more than $1.2 billion with more than 1500 Guyanese suppliers since operations began in 2015 and production commencing later in 2019.
Meanwhile, the Guyana Government has welcomed the first oil at Payara, describing it as an important milestone towards meeting energy demands.
“Commencement of production at the Payara development is a significant milestone for our country as it ushers in additional revenue in support of our nation’s economic development while it augments meeting global energy demand. The Government is committed to utilising the revenues provided by this resource to further improve public infrastructure, the educational and healthcare systems and our various social programmes. Sustainable development and responsible environmental stewardship remain a priority of this Government as we continue to manage these resources towards the prosperity of the Guyanese people and this great nation.”
The statement further outlined, “These will be further buttressed by the Yellowtail and Uaru developments which are already underway, anticipated to contribute 250,000 barrels of oil each following their respective start-ups. An application for the sixth development, the Whiptail Project, was submitted by the Stabroek Block operator, ExxonMobil Guyana Limited (EMGL), and its co-venturers.”