Oilfield services company TechnipFMC said it has won a large contract to supply subsea equipment for ExxonMobil’s Payara development offshore Guyana, following the oil major’s FID on the project on Wednesday.
Under the contract, TechnipFMC will manufacture and deliver the subsea production system, including 41 enhanced vertical deep water trees and associated tooling, six flexible risers and ten manifolds along with associated controls and tie-in equipment.
In support of the project, TechnipFMC said it would will continue hiring and training Guyanese engineers. TechnipFMC said the contract was “large,” meaning the value falls in the range between $500 million and $1 billion.
Payara is ExxonMobil’s third development in the Stabroek Block located approximately 193 km (120 miles) offshore Guyana, in with water depths of 1,500 m (4,900 ft) to 1,900 m (6,200 ft).
The project, called Payara, will target an estimated resource base of about 600 million oil-equivalent barrels. It will be developed using an SBM Offshore supplied FPSO. It is expected to start production in 2024.