The coalition administration has applied for financing in the amount of US$20M equivalent from the World Bank which would go towards the Guyana Petroleum Resources Governance and Management Project (GPRGMP). In an advertisement that was published in the daily newspapers, it was noted that part of that sum being applied for would be used to hire a consultancy firm for the review and evaluation of field development plans.
Simultaneously, the government has invited eligible consulting firms to indicate their interest in providing the aforementioned services. To be considered for the assignment, the government noted that the bidding firm should have in-depth international expertise and regional knowledge.
The field development plans which are before the Energy Department for review are those for the Payara in the Stabroek Block that is operated by ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL).
Payara is Exxon’s third field development on the Stabroek Block and is scheduled to first oil in 2022 or 2023 if approvals are granted by year-end. It is located in the eastern area of the Stabroek Block which is approximately 190 km (118 miles) from Georgetown.
The operator has informed the Environmental Protection Agency (EPA) that oil production from Payara is expected to last at least 20 years with the startup of the facilities expected to occur approximately in mid-2023.
