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Guyana oil production targeted for possible December start-up

Dated: October 30th, 2019

OilNow

The Liza Destiny FPSO, Guyana's first oil production vessel, moored offshore at the Stabroek Block, Guyana, South America, October 2019.

Oil production in the South American country of Guyana is targeted for a possible December start-up at the Liza Phase 1 Development, months ahead of the originally planned timeline of QI 2020.


The Liza field sits in the giant 6.6 million acres Stabroek Block offshore Guyana.

US oil major ExxonMobil made a record 14 discoveries on the block since 2015 and continues to search for more petroleum resources.


Hess Chief Executive Officer, John Hess, said in a report on Wednesday, “In September, we announced our 14th discovery in the Stabroek Block at Tripletail, offshore Guyana and are now targeting December for first oil from the Liza-1 development.”


Liza Phase 1 will produce up to 120,000 gross bopd utilizing the Liza Destiny FPSO, which arrived in Guyana on August 29, 2019. The FPSO was converted from a VLCC by Keppel. It will be able to store 1.6 million barrels of crude oil.


The Liza Phase 2 development was sanctioned in May 2019 and will use the Liza Unity FPSO to produce up to 220,000 gross bopd, with first oil expected by mid-2022. Pending government approvals, a third development, Payara, is expected to produce up to 220,000 bopd with startup in 2023.


The Stabroek Block is operated by ExxonMobil with a 45% interest while Hess and CNOOC Petroleum have 30% and 25% interest, respectively.

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