Wednesday, November 13, 2019

ExxonMobil to proceed with Liza Phase 2 development offshore Guyana

Featured

Trump said: Sondland is great American now President’s famous ‘U-turn’

President Donald Trump has a history of distancing himself from associates who have found themselves in legal trouble or...

Babri mosque: Indian Supreme Court ruled in favor of Hindus in a dispute over a religious position with Muslims

India's Supreme Court on Saturday ruled in favor of a Hindu group in a long-running legal battle over a...

France Visa: New point-based skilled immigrant program to be enforced by summer 2020

France will introduce new point-based skilled immigrant program (France Visa), will come to force by summer 2020. French government...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

ExxonMobil said it has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals. Liza Phase 2 will produce up to 220,000 barrels of oil per day and further capitalize on the significant development potential of the Stabroek Block, where ExxonMobil estimates producing more than 750,000 barrels of oil per day by 2025.

A total of six drill centers are planned as well as approximately 30 wells, including 15 production, nine water injection and six gas injection wells.

Phase 2 startup is expected in mid-2022 and will develop approximately 600 million barrels of oil.

Liza Phase 2 is expected to cost $6 billion, including a lease capitalization cost of approximately $1.6 billion, for the Liza Unity floating production, storage and offloading (FPSO) vessel.

Liza Phase 2 received government and regulatory approvals and remains on track for mid-2022, producing up to 220,000 barrels of oil per day

“With the government of Guyana and our partners, ExxonMobil is bringing industry-leading upstream capabilities to build upon Phase 1 and further develop the shared value of Guyana’s resources,” said Liam Mallon, president of ExxonMobil Upstream Oil & Gas Company. “We are actively pursuing significant development potential from numerous discoveries in the Stabroek Block.”

Liza Phase 1 remains on track to achieve first oil by the first quarter of 2020. It will produce up to 120,000 barrels of oil per day at peak rates utilizing the Liza Destiny FPSO, which is expected to arrive offshore Guyana in the third quarter of 2019.

Pending government and regulatory approvals, a final investment decision is expected later this year for a third phase of development, Payara, which is expected to produce between 180,000 and 220,000 barrels per day with startup as early as 2023.

ExxonMobil is evaluating additional development potential in other areas of the Stabroek Block, including at the Turbot area and Hammerhead.

Phase 1 on schedule for first oil by first quarter of 2020

By the end of 2019 ExxonMobil will have four drillships operating offshore Guyana. Following well completion activities at the recently announced Yellowtail discovery, the Noble Tom Madden will move to the Hammerhead-2 well.

The Stena Carron is completing a well test at the Longtail-1 discovery, and will then move to the Hammerhead-3 well.

Later in 2019, the Stena Carron will drill a second well at the Ranger discovery. The Noble Bob Douglas drillship is completing development drilling operations for Liza Phase 1.

ExxonMobil will add another exploration drillship, the Noble Don Taylor, in the fourth quarter of 2019.

As the projects proceed, the partners’ investment in the Guyanese economy continues to increase.

The number of Guyanese nationals supporting project activities more than doubled in 2018 to more than 1,000.

ExxonMobil and its co-venturers spent nearly $60 million with more than 500 Guyanese vendors in 2018. More than 1,500 Guyanese companies are registered with the Centre for Local Business Development, which was founded by ExxonMobil and its co-venturers in 2017 with the mission of supporting local businesses to become globally competitive.

Guyanese direct and indirect workforce more than doubled in 2018 to more than 1,000

The Stabroek Block is 6.6 million acres, or 26,800 square kilometers. Current discovered recoverable resources are estimated at more than 5.5 billion barrels of oil equivalent.

The 13 discoveries on the block to date have established the potential for at least five FPSO vessels producing more than 750,000 barrels of oil per day by 2025.

ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block.

Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Latest News

Germany announces an increase in the value of arms exports to 7.42 billion euros

The German government said in a statement that it issued arms exports permits worth 7.42 billion euros during the...

Death toll in Kabul blast rises to 12 dead, 20 wounded

Kabul blast: The Afghan authorities announced the death toll of the car bomb explosion in the capital Kabul to 12 people, including children, as...

Venice fills with water after heavy rains and flood

Venice: Destruction and devastation caused by heavy rains on many streets and squares of Italy, which turned into floods and severe flooding destroyed dozens...

Napkin stuck in President Trump’s shoes after coming off his car .. Photos

Reuters news agency published pictures of US President Donald Trump as he got out of his car, and was noticed after the descent of...

House committee will hold public hearings on Trump’s accountability next week

The US House of Representatives Intelligence Committee will hold three days of public hearings next week as part of its inquiry into President Donald...
- Advertisement -

Related News