Liza oil field : ExxonMobil, Hess begin production from Guyanese oil project
Liza oil field production : ExxonMobil, Hess and other partners in the Stabroek Block in Guyanese waters have started production from the first phase of the deepwater Liza oil project ahead of schedule and within five years following its discovery.
According to ExxonMobil, production from the $4.4 billion Liza field phase 1 development is likely to achieve full capacity of 120,000 barrels of oil per day in the coming months with the first cargo to be sold within several weeks. The Guyanese oil project is the first of multiple offshore projects to be executed in the Stabroek Block.
Commenting on Liza oil field production, Darren Woods, chairman and CEO of ExxonMobil, said: “This historic milestone to start oil production safely and on schedule demonstrates ExxonMobil’s commitment to quality and leadership in project execution.
“We are proud of our work with the Guyanese people and government to realize our shared long-term vision of responsible resource development that maximizes benefits for all.”
The first phase of the Liza oil project comprises the Liza Destiny floating, production, storage and offloading (Liza Destiny FPSO) vessel, which has been moored 190km offshore Guyana, and four subsea drill centers to support 17 wells.
For the Liza oil field phase 2 project, the partners will deploy the Liza Unity FPSO, which will have a production capacity of up to 220,000 gross barrels of oil per day. The phase 2 of the Liza oil project is expected to begin production in mid-2022.
John Hess – Hess CEO, commenting on Liza oil field production, said: “We are proud to be a partner in the development of this world class resource and look forward to continuing to work with the Government of Guyana and the Guyanese people to realize the remarkable potential of the Stabroek Block.”
The offshore Guyanese block has an estimated discovered recoverable resource of over 6 billion oil equivalent barrels as of now. Hess expects more than five FPSOs to be deployed at the Stabroek Block to draw 750,000 plus gross barrels of oil per day by 2025.
ExxonMobil subsidiary Esso Exploration and Production Guyana is the operator of the Stabroek Block with 45% stake. Hess’ subsidiary Hess Guyana Exploration owns 30% stake, while CNOOC Nexen Petroleum Guyana holds 25% stake in the offshore Guyanese block.