ExxonMobil to proceed with $9 billion Payara development

ExxonMobil to proceed with $9 billion Payara development

ExxonMobil has made its final investment decision to proceed with the Payara field offshore development in Guyana after receiving government approvals. Payara is the third project in the Stabroek Block and is expected to produce up to 220,000 barrels of oil per day after startup in 2024, using the Prosperity floating production, storage and offloading (FPSO) vessel.


The $9 billion 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.

Information Source: Read More…..


Submitted by: Press release


Report by: OGP/Segun Cole , Please email us your industry related news for publication info@OilAndGasPress.com

Submit a Press Release

Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook

Oil and Gas News Straight from the Source

#FOLLOW US ON INSTAGRAM