If there continues to be delays in giving ExxonMobil the green light to begin developing its third project, the Payara in the Stabroek Block, Guyana stands to lose significantly. This picture was painted recently by Rystad Energy, a Norwegian research company.
In its latest assessment of Payara, Rystad reminded that once developed, Payara is expected to bring up 200,000 barrels of oil per day. ExxonMobil had hoped for approval to be granted last year December. Had its wish been granted, Payara would have been up and running by 2025. In a press conference held earlier this year, it was noted that delays in approval were due to issues that had to be resolved with the Field Development Plan for the project. As a result of this, the project start-date has been pushed back by a year.