The early arrival of Guyana’s first floating oil production complex could fast-track the South American country’s move to first oil and the Department of Energy (DE) – the lead state agency for the petroleum sector – is advancing its timetable in this regard.
So says DE Director, Dr. Mark Bynoe, speaking at a Commemorative Reception to welcome home the 120,000 barrels per day Liza Destiny FPSO, which was held at the Guyana Marriott Hotel on Monday evening.
Dr. Bynoe stated, “The Liza Destiny’s arrival three weeks ahead of schedule means that our timetable has moved forward and as a policy-related body, the Department of Energy is also called upon to advance its timetable.”
He continued, “It means that we move earlier to production of first oil and to seeing the benefits of this industry impact Guyanese much faster.”
Oil production was initially scheduled to get underway by the first quarter of 2019.
Amidst the pomp of the reception, which displayed a fusion of Guyanese culture, the DE Head posited that the arrival of the Liza Destiny is a historic milestone for Guyana, “as it means first oil is imminent.”
The Liza Destiny, which is 350 meters long, and has the capacity to store 1.6 million barrels of oil, the Energy Official said, “heralds a tide of good fortune which we must appreciate for both the magnificent engineering feat that the Liza represents and the flood of opportunities and possibilities it presents for Guyana and its people.”
The Liza Destiny, he continued, “is a merger of the brilliant technology savvy of Exxon and its partners married with the amazing natural resource of Guyana and this includes its most precious resource—its people.”
“In the past four years, we have seen this baby conceived, nurtured it and anxious anticipation and now given birth to gigantic floating Goliath called the Liza Destiny. …Our own Guyanese agencies have leapt upward in a steep learning curve to master this complex business and to get Guyana ready for this moment,” he added.
Also speaking at the event, Rod Henson, President and Country Manager of ExxonMobil Guyana – operator of the 6.6 million acres Stabroek Block – described the arrival of the FPSO as “an exciting milestone along a transformative journey.”
“This evening, I’d like to not only celebrate the arrival of the Liza Destiny to the Stabroek Block, but also the partnership between ExxonMobil and Guyana,” he stated, later adding, “I believe this partnership has its best and most productive decades ahead.”
Despite the challenges that came, he said perseverance and dedication ultimately paid off, noting that it is “difficult to find comparisons to the scope of our Guyana project.”
The Liza Destiny FPSO departed Singapore on July 18 for its 11,000 nautical miles journey to Guyana, after it was commissioned by the country’s First Lady, Sandra Granger, who offered a toast at the welcome home reception for the floating platform.
The First Lady has said her hope is that the vessel bring the people of Guyana not only prosperity, but greater cohesion, greater development and the sustainability of the country.
Dutch floater specialist SBM Offshore was contracted by ExxonMobil to build, install, lease and operate the Liza Destiny.
The Liza field is located in the Stabroek block, which covers almost 27,000 square kilometers, circa 200 kilometers offshore Guyana. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is the operator and holds a 45 percent interest in the Stabroek block. Hess Guyana Exploration Ltd. holds a 30 percent interest, and CNOOC Nexen Petroleum Guyana Limited holds a 25 percent interest.