Payara is a conventional oil development located in ultra-deepwater in Guyana and is operated by Esso Exploration and Production Guyana. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Payara was discovered in 2017, lies in block Stabroek, with water depth of around 7,000 feet. Buy the profile here.
The project is currently in construction stage and is expected to start commercial production in 2023. Final investment decision (FID) of the project was approved in 2020. The development cost is expected to be $9,000 m. The Payara conventional oil development will involve the drilling of approximately 41 wells and includes FPSO, subsea manifold, and subsea trees.
Field participation details
The field is owned by China National Offshore Oil, Exxon Mobil and Hess.
Production from Payara
Production from the Payara conventional oil development project is expected to begin in 2023 and is forecast to peak in 2028, to approximately 215,615 bpd of crude oil and condensate and 61 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2046.
Remaining recoverable reserves
The field is expected to recover 761.05 Mmboe, comprised of 726.83 Mmbbl of crude oil & condensate and 205.29 bcf of natural gas reserves.
Contractors involved in the Payara conventional oil field
Some of the key contractors involved in the Payara project as follows.
Design/FEED Engineering: Halliburton, SBM Offshore and TechnipFMC
Main EPC: Eni
EPC Contractors: SBM Offshore, Shanghai Waigaoqiao Shipbuilding & Offshore, Industrial Fabrications and Guyana Oil and Gas Support Services
Other Contractors: KNM Group, ShawCor, Stena, Remazel Engineering and Heatric UK
About Esso Exploration and Production Guyana
Esso Exploration and Production Guyana Ltd. (Esso Exploration and Production Guyana) is a company that explore and produce oil and gas products.The company is headquartered in Guyana.
For more details on the Payara Conventional Oil Field, buy the profile here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
