ExxonMobil (NYSE: XOM) has started up production at Guyana’s second offshore oil development on the Stabroek Block.
Production at the Liza Unity floating, production, storage and offloading (FPSO) vessel is expected to reach its target of 220,000 barrels of oil later this year.
It total production capacity offshore Guyana to more than 340,000 barrels of oil per day.
The first discovery was uncovered just seven years ago and the Liza Destiny FPSO began production in December 2019
The Stabroek Block’s recoverable resource base is currently estimated at more than 10 billion oil-equivalent barrels.
Liam Mallon, president, ExxonMobil upstream oil and gas, said: “We are collaborating closely with the government and people of Guyana to develop this world-class resource responsibly, helping to meet the world’s energy needs and delivering enhanced value for all stakeholders at a record pace and well ahead of the industry average.
“With unparalleled project execution, we now have two production facilities operating offshore Guyana.”
The Liza Unity arrived in Guyana in October 2021.
It is moored in water depth of about 1,650 meters and will be able to store around 2 million barrels of crude.
The vessel is the world’s first FPSO to be awarded the SUSTAIN-1 notation by the American Bureau of Shipping in recognition of the sustainability of its design, documentation and operational procedures.
By the end of 2025 the US supermajors anticipates that four FPSOs with a capacity of more than 800,000 barrels per day will be in operation on the Stabroek Block.
Payara, the third project in the field, is expected to produce approximately 220,000 barrels of oil per day using the Prosperity FPSO – the vessel is currently under construction.
The field development plan and application for environmental authorisation for the Yellowtail project, the fourth project in the block, have been submitted for government and regulatory approval.
ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator of the Stabroek block with a 45% interest.
Hess Guyana Exploration holds a 30% stake while CNOOC Petroleum Guyana Limited holds the remaining 25%.
Recommended for you
