(Energy Analytics Institute, 30.Sep.2020) — Exxon announced the Final Investment Decision (FID) was made to proceed with development offshore Guyana of the Payara field.
The decision was taking by the US-based operator after receiving necessary government approvals.
The Payara development is the third for the company and its partners Hess and CNOOC offshore the small South American country in the Stabroek Block.
Production from the Payara development is expected to reach up to 220,000 barrels of oil per day after startup in 2024. The Prosperity floating production, storage and offloading (FPSO) vessel will be used for the development, Exxon said 30 September 2020 in a social media post.
“The development will target an estimated resource base of about 600 million oil-equivalent barrels. Ten drill centers are planned along with up to 41 wells, including 20 production and 21 injection wells,” Exxon said.
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By Ian Silverman. © Energy Analytics Institute (EAI). All Rights Reserved.
