Capital expenditure by project offshore Guyana sees the Liza field at the 6.6 million acres Stabroek Block leading the pack through 2030 having already surpassed US$3 billion in investments for 2019.
“The 2015 Liza find has completely rewritten the script for Guyana’s economic outlook,” Norway-based Rystad Energy has said.
The world class Liza discovery in 2015 opened the Guyana-Suriname basin to a series of exploration campaigns in which US oil major ExxonMobil has been the leader and biggest winner to date, with over 8 billion barrels of oil discovered at Stabroek.
A total of US$21.8 billion is expected to be plugged into the Liza field by 2030. The Liza Phase 1 Development is already producing oil and phase 2 of the project is set to start up by 2022. A FPSO – Liza Unity – has already been commissioned for Phase 2 and is currently being built by SBM Offshore.
“Currently, most of the costs are being spent on developing Liza and finding new resources. Soon, however, capital-intensive new development projects are likely to kick off, with greenfield costs forming a major part of the spending,” said Palzor Shenga, Senior Upstream Research Analyst at Rystad Energy.
ExxonMobil is operator at the Stabroek Block with 45% interest. Hess holds 30% and CNOOC has a 25% stake.
