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ExxonMobil increases Guyana recoverable resources
ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8bn boe and made a further oil discovery north-east of the Liza field (which came onstream in December 2019), the 16th discovery on the Stabroek block.
The new recoverable resource estimate includes 15 discoveries offshore Guyana through year-end 2019. The latest Uaru discovery is the first of 2020 and will be added to the resource estimate at a later date.
‘With recent high-quality finds at Tripletail and Mako contributing to our recoverable resources, our investments will continue to provide benefits for the people of Guyana,’ said Mike Cousins, Senior Vice President of Exploration and New Ventures at ExxonMobil. ‘The Uaru discovery is another positive step as we begin a new decade with the Co-operative Republic of Guyana and our co-venturers.’
Production from the Liza Phase 1 development is currently ramping up and will produce up to 120,000 b/d of oil in coming months, utilising the Liza Destiny floating production storage and offloading (FPSO) vessel. The Liza Unity FPSO, which will be employed for the second phase of Liza development and will have a production capacity of 220,000 b/d, isunder construction and expected to start production by mid-2022.
Pending government approvals and project sanctioning of a third development, production from the Payara field north of the Liza discoveries could start as early as 2023, reaching an estimated 220,000 b/d.
ExxonMobil, through its affiliate Esso Exploration and Production Guyana, is operator of the Stabroek block, holding a 45% stake. Partners are Hess Guyana Exploration, with a 30% interest and CNOOC Petroleum Guyana, with 25%.
News Item details
Journal title: Petroleum Review
Countries: Guyana -
Subjects: Oil, Exploration and production, Petroleum reserves, Oil reserves
