ExxonMobil begins oil production in offshore Guyana; estimated ~6B barrels oil equivalent recoverable in Stabroek Block
ExxonMobil has started oil production from the Liza field offshore Guyana ahead of schedule and less than five years after the first discovery of hydrocarbons, which is well ahead of the industry average for deepwater developments.
The Liza Phase 1 development is approximately 190 kilometers offshore in water depths of 1,500– 1,900 meters. Production from this first phase of the Liza field, located in the Stabroek Block, is expected to reach full capacity of 120,000 barrels of oil per day in coming months, and the first cargo is set to be sold within several weeks.
The concept design for the Liza Phase 1 development project features the Liza Destiny floating, production, storage and offloading (FPSO) vessel and four subsea drill centers supporting 17 wells.
A second FPSO, Liza Unity, with a capacity to produce up to 220,000 barrels of oil per day is under construction to support the Liza Phase 2 development, and front-end engineering design is underway for a potential third FPSO, the Prosperity, to develop the Payara field upon government and regulatory approvals.
ExxonMobil anticipates that by 2025 at least five FPSOs will be producing more than 750,000 barrels per day from the Stabroek Block. The timely development of these additional projects will ensure that the local workforce and the utilization of local suppliers will continue to grow.
The current estimated discovered recoverable resource for the Stabroek Block is more than 6 billion oil equivalent barrels, including Liza and other successful exploration wells on Payara, Liza deep, Snoek, Turbot, Ranger, Pacora, Longtail, Hammerhead, Pluma, Tilapia, Haimara, Yellowtail and Tripletail.
Esso Exploration and Production Guyana Limited is operator and holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Nexen Petroleum Guyana Limited holds 25% interest.
Approximately 1,700 of ExxonMobil’s employees and other workers supporting its activities in Guyana are Guyanese—more than 50 percent of the total workforce. This number will continue to grow as additional operations progress. ExxonMobil and its direct contractors have spent approximately $180 million with more than 630 local suppliers since the first discovery in 2015.