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November 23, 2021

Payara Conventional Oil Field, Guyana

By Carmen

Payara is a conventional oil development located in ultra-deepwater in Guyana and is operated by Esso Exploration and Production Guyana. Discovered in 2017, Payara lies in block Stabroek, with water depth of around 7,000 feet.

The project is currently in construction stage and is expected to start commercial production in 2024. 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 Hess, Exxon Mobil and China National Offshore Oil.


Production from Payara

Production from the Payara conventional oil development project is expected to begin in 2024 and is forecast to peak in 2029, to approximately 216,187 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 758.46 Mmboe, comprised of 724.36 Mmbbl of crude oil & condensate and 204.59 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: SBM Offshore

Main EPC: Eni

EPC Contractors: Guyana Oil and Gas Support Services, Industrial Fabrications and SBM Offshore

Other Contractors: KNM Group, Remazel Engineering, ShawCor, Stena Drilling and TechnipFMC

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Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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