Exxon third FPSO arrives in Guyana’s waters

Exxon Mobil Corp. XOM.N on Tuesday said the production vessel for Guyana’s third oil project, Payara, arrived in the country’s waters, with production expected to begin later this year.

Production from the Prosperity vessel is expected to push daily production in the South American country to some 600,000 barrels a day in 2024, the company said in a statement.

The Prosperity Floating, Production, Storage, and Offloading (FPSO) vessel has an initial production capacity of around 220,000 barrels of oil per day. It joins the Liza Destiny and Liza Unity vessels, currently producing more than 380,000 barrels per day in Guyana.

Installation campaigns are ongoing and development drilling is underway to support Prosperity’s start-up later this year, Exxon said.

By Sabrina Valle (Reuters)