ExxonMobil Begins Oil Production in Guyana
December 20 2019 - 9:30PM
Business Wire
- Production for Liza Phase 1 to reach full capacity of 120,000
barrels of oil per day in the coming months
- Liza Phase 1 is the first of multiple offshore projects planned
in the Stabroek Block
- More than 1,700 Guyanese have worked on ExxonMobil activities
in Guyana
ExxonMobil today announced that oil production has started 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.
Production from the 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.
“This historic milestone to start oil production safely and on
schedule demonstrates ExxonMobil’s commitment to quality and
leadership in project execution,” said Darren Woods, chairman and
chief executive officer of Exxon Mobil Corporation (NYSE:XOM). “We
are proud of our work with the Guyanese people and government to
realize our shared long-term vision of responsible resource
development that maximizes benefits for all.”
The concept design for the Liza Phase 1 development project
features the Liza Destiny floating, production, storage and
offloading (FPSO) vessel moored 190 kilometers offshore Guyana, and
four subsea drill centers supporting 17 wells.
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.
“Through our continued workforce development and community
investments, we are making a positive impact in Guyana,” said Rod
Henson, president of ExxonMobil’s Guyana affiliate. “We are
committed to the use of technology and continued innovation to
achieve the highest standards for safety and environmental
performance.”
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. Esso
Exploration and Production Guyana Limited is operator and holds 45
percent interest. Hess Guyana Exploration Ltd. holds 30 percent
interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent
interest.
About ExxonMobil
ExxonMobil, the largest publicly traded international energy
company, uses technology and innovation to help meet the world’s
growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. For more information, visit
www.exxonmobil.com or follow us on Twitter at
www.twitter.com/exxonmobil.
Cautionary Statement: Statements of
future events or conditions in this release are forward-looking
statements. Actual future results, including project plans,
schedules, capacities, and resource recoveries could differ
materially due to changes in market conditions affecting the oil
and gas industry or long-term oil and gas price levels; political
or regulatory developments including obtaining necessary regulatory
permits; reservoir performance; the outcome of future exploration
and development efforts; technical or operating factors; the
outcome of commercial negotiations; and other factors cited under
the caption “Factors Affecting Future Results” on the Investors
page of our website at www.exxonmobil.com. References to
“recoverable resource” and similar terms in this release include
quantities that are not yet classified as proved reserves under SEC
rules but that are expected to be ultimately recoverable.
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