ExxonMobil today said it has started production at Guyana’s second offshore oil development on the Stabroek Block, Liza Phase 2, bringing total production capacity to more than 340,000 barrels per day in only seven years since the country’s first oil find.
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, as operations continue to be brought safely on stream, a release from the company said.
It adds to the more than 120,000 barrels per day of capacity at the Liza Destiny FPSO, which started production in December 2019 and is now delivering at better than design capacity. The Stabroek Block’s recoverable resource base is currently estimated at more than 10 billion oil-equivalent barrels.
“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,” said Liam Mallon, president, ExxonMobil Upstream Oil and Gas.
“With unparalleled project execution, we now have two production facilities operating offshore Guyana”, he added.
The current resource in the Stabroek Block has the potential to support up to 10 projects. ExxonMobil says it anticipates that four FPSOs with a capacity of more than 800,000 barrels per day will be in operation on the Stabroek Block by year-end 2025.
Payara, the third project in the Stabroek Block, is expected to produce around 220,000 barrels of oil per day using the Prosperity FPSO vessel, which is currently under construction in Singapore.
The field development plan and application for environmental authorization for the Yellowtail project, the fourth project in the block, have been presented for government and regulatory approval.
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.
