Guyana to See First Oil Earlier than Expected

The Liza Destiny floating production, storage, and offloading vessel. (Photo Credit: Hess)

GEORGETOWN, Guyana, Friday November 1, 2019 – The timetable for production of first oil in Guyana has been moved up to the end of this year, earlier than the previously announced first quarter of 2020.

Hess Corp, ExxonMobil’s partner in the Stabroek Block, announced yesterday that Liza-1, the initial Guyana discovery well announced in May 2015, is now targeted to commence production in December of this year.

“The Liza Phase 1 development…will produce up to 120,000 gross bopd [barrels of oil per day] utilizing the Liza Destiny FPSO [floating production storage and offloading], which arrived in Guyana on August 29, 2019,” Hess said in its report on estimated results for the third quarter of 2019.

“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 start-up in 2023.”

Hess Corp and ExxonMobil have also selected two more exploration wells to drill, following their 14th successful well there, Tripletail, last month.

After Tripletail, they will next drill the Uaru-1 prospect, and a fourth drillship expected to arrive in November to drill the Mako-1 exploration well.

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