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Guyana’s 3rd oil project achieved fastest ramp-up in the history of deep-water operations- ExxonMobil Guyana President
Kaieteur News- Guyana has managed to make its name known on the global map for many reasons, but for ExxonMobil, the country’s third oil project has set a remarkable milestone for the company, copping the fastest ramp-up in history of deep-water operations.
This was revealed by President of ExxonMobil Guyana Limited (EMGL), Alistair Routledge during the most recent episode of the Energy Perspectives Podcast, hosted by CEO of the Guyana Energy Conference, Kiana Wilburg.
Reflecting on the company’s strategic achievements for the year, Routledge noted that Exxon was not only able to hit 500 million barrels of oil since the startup of production activities in 2019, but also reached another milestone, the one-year anniversary for production activities at the Payara project.
He explained, “It’s been a dream startup. The Payara project set all kinds of industry records for safety, no hurts in the first year of operation, extremely high reliability, has also had the fastest ramp up from first startup all the way to full capacity that we have been able to identify in the industry, certainly for a deep water, offshore operation so, really an outstanding project and multiple achievements within that milestone of one year.”
President, ExxonMobil Guyana, Alistair Routledge sharing remarks during the Energy Perspectives Podcast (Guyana’s 3rd oil project)
Payara is Exxon’s third deep water project in the Sabroek Block. The Prosperity Floating, Production, Storage and Offloading vessel (FPSO), which commenced production on November 14, 2023, was designed to produce 220,000 barrels per day (bpd) but Exxon has increased production about to 250,000 bpd.
Only recently, this newspaper reported that Chief Executive Officer (CEO) of Exxon Mobil Corporation, Darren Woods boasted about the world class performance of the company’s assets in Guyana.
During the company’s third quarter Earning’s Call in November, Woods updated shareholders of the company that Exxon completed tie-in for the country’s Gas-to-Energy (GTE) project. This was completed on budget and schedule with the company already back to full production activities. Exxon had taken the Liza One and Liza Two projects offline for a period of two weeks each to facilitate the tie-in works.
Meanwhile, Woods said, “Our Payara project, which remained online during the tie-ins, continues to perform above investment basis – as has been the case with all the projects we’ve brought online in the world’s premier deepwater development.”
ExxonMobil is the operator of the oil rich Stabroek Block with a 45% interest, while Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.
Currently, ExxonMobil has three projects producing oil in Guyana. It should be noted that each of these developments have been pushed to produce above the limits outlined in project documents submitted to Guyanese regulators. The company has been able to increase capacity of the three FPSOs through a process called debottlenecking. Exxon previously explained that the company would assess the projects for bottlenecks to improve recovery of the resources. The company would then submit its findings to the Environmental Protection Agency (EPA) and the Ministry of Natural Resources for consideration and approval. Following its independent assessment, the regulator would then issue its blessings for the optimization activities, allowing Exxon to increase production on the vessels.
(Guyana’s 3rd oil project achieved fastest ramp-up in the history of deep-water operations- ExxonMobil Guyana President)
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