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ExxonMobil Announced Continuation of Guyana Drilling Work

Incident of seismic acquisition vessels happened on December 22 didn’t affect the drilling and development offshore Guyana stated by ExxonMobil Corp. In the northwest portion of the Stabroek block offshore Guyana, two vessels operated by Petroleum Geo-Services were stopped from conducting 3D seismic data acquisition as Venezuela navy claimed border breach.

ExxonMobil stated acquisition of seismic data was being conducted under license from the government of Guyana in the exclusive economic zone of the country. The incident happened almost 110 km from the Ranger discovery, which is nearest to the 10 oil discoveries done by ExxonMobil in the southeastern part of the block.

The company also stated that all the activities related to the Liza Phase 1 development, is expected to produce approximately 120,000 b/d in early 2020. The operation is still unaffected. ExxonMobil also stated that there is estimation for the Production of at least five floating production, storage, and offloading vessels on the block which leads to the production of more than 750,000 b/d of oil by the year 2025.

By mid 2022, the Liza Phase 2 is expected to begin production. In the first quarter of the next year, pending government and regulatory approvals, project sanction is expected followed by usage of second FPSO which is designed for production of up to 220,000 b/d. In the year 2019, sanctioning of a third development, Payara, is also expected and will start up as early as 2023. With 45% interest, the Esso Exploration & Production Guyana Ltd. is an operator, whereas Hess Guyana Exploration Ltd. has 30% and CNOOC Nexen Petroleum Guyana Ltd. 25%.

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ExxonMobil Announced Continuation of Guyana Drilling Work

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