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.
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 2,16,187 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: Halliburton , SBM Offshore and TechnipFMC
Main EPC: Eni
EPC Contractors: Guyana Oil and Gas Support Services, Industrial Fabrications, SBM Offshore and Shanghai Waigaoqiao Shipbuilding & Offshore
Other Contractors: Heatric UK, KNM Group , Remazel Engineering , ShawCor and Stena
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.