"Payara" News

Exxon Presses for Guyana Approval of Third Offshore Project

Aug 27, 2020

Exxon Mobil Corp is pressing Guyana's newly-installed government for approval of its third offshore oil project, which has been under a months-long review that coincided with political turmoil in the South American country.Exxon, which operates…

Malaysia's KNM to Deliver Equipment for SBM Offshore FPSO

Aug 14, 2020

Dutch floating production solutions provider SBM Offshore has ordered equipment from Malaysia's KNM to be installed on an FPSO destined for ExxonMobil's Guyana operations.Bursa Malaysia-listed KNM said SBM Offshore had on Thursday ordered PME pressure vessel separators worth around $4 million…

Exxon Names Country Head in Emerging Hot Spot Guyana

Jul 24, 2020

Exxon Mobil Corp said on Thursday it had named its former Qatar country manager as the chief of its operations in Guyana, a South American country that just started producing crude last year and is seen as key to the company's future.Alastair Routledge takes over after the company…

Rystad: FPSO Contract Awards to Rebound in 2021 after Poor 2020

Jul 08, 2020

Norway-based energy intelligence firm Rystad Energy said Tuesday it didn't expect any new FPSO orders this year, however, it expects the situation will improve next year when it foresees seven new FPSO to be ordered.'Hit by the second industry downturn in five years…

Guyana's Liza Phase 2 on Track for First Oil in 2022

May 08, 2020

Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. said Thursday.Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO…

Guyana Has No Plans to Cut Crude Output

May 04, 2020

Guyana has no plans to cut crude output despite a plunge in oil prices, the government's top energy official said on Monday, adding that shutting down production could prove costly and harm future output.Mark Bynoe, the director of the Department of Energy…

Exxon Could Delay Third Guyana Project

Apr 07, 2020

Exxon Mobil Corp said on Tuesday that production at the Payara project, its third development in Guyana, could be delayed due to delays in government approvals as the company scales back spending elsewhere due to the crude price crash.Payara's…

New Oil and Gas Project Spending to Fall 68% in 2020 if Oil Price Stays Low

Mar 24, 2020

Oil and gas project sanctioning in 2020 could drop almost 70% compared to 2019 if the oil prices remain in the $30 a barrel area, Norway-based Rystad Energy said in an analysis on Monday.'The effect of the COVID-19 virus on global demand for oil and gas…

Floating Production: The Next Chapter

Feb 19, 2020

The market for floating production, storage and offloading units (FPSO) is heating up. Séverine Baudic, SBM Offshore’s Managing Director for Floating Production Solutions, weighs in on the strategic initiatives and technological innovations…

Oil Firms to Spend $53Bn at Stabroek Block

Feb 16, 2020

Global oil firms are preparing to spend more than $53 billion in Guyana’s coveted Stabroek Block during the coming decade.According to Rystad Energy research, recent discoveries in the Guyana-Suriname basin have proven a wider petroleum system and may cause an upgrade in resource estimates…

ExxonMobil Gives Boost to Guyana Oil Reserves. Makes Another Discovery

Jan 27, 2020

ExxonMobil has struck another oil discovery offshore Guyana and has raised its estimate for recoverable resource base in Guyana to more than 8 billion barrels of oil equivalent. This is a 2 billion barrel increase compared to the previous estimate…

ExxonMobil Discovers Oil Offshore Guyana

Dec 23, 2019

ExxonMobil made a deepwater oil discovery at the Mako-1 well offshore Guyana, the US supermajor announced on Monday, just days after reporting first oil from the nearby Liza field on Friday.The 15th discovery on the Stabroek Block, the new find…

ExxonMobil Starts Oil Production in Guyana

Dec 20, 2019

ExxonMobil announced Friday it has begun oil production from the deepwater Liza field offshore Guyana ahead of schedule and less than five years after the first discovery of hydrocarbons.Production from the first phase of the Liza field, located in the 6…

Saipem Wins Subsea Contract in Guyana

Nov 14, 2019

Italian oilfield services firm Saipem said it has been awarded a subsea contract by ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) for the proposed Payara development project located in the Stabroek block offshore Guyana at a water depth of around 2…

SBM Wins Guyana FPSO Contract from Exxon

Nov 07, 2019

SBM Offshore announced on Thursday that ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded the company contracts to perform front end engineering and design (FEED) for a third floating production, storage and offloading vessel (FPSO) in Guyana…

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