US oil major ExxonMobil is targeting production of 2 billion oil equivalent barrels in Guyana over the first three phases of development in the 6.6 million acres Stabroek Block, beginning with Liza Phase 1 in 2020.
In its recently released 2017 Financial & Operating Review, the company said development planning is moving ahead for multiple phases of production in the South American country. “Development planning is progressing for subsequent phases in the greater Liza area. The regulatory process is under way for the Phase 2 FPSO vessel, with capacity of up to 220,000 barrels per day…,” the report stated.
“Given we receive all the permits and approvals necessary, production startup could be expected in 2022,” Kimberly Brasington, ExxonMobil Guyana’s Senior Director, Public and Government Affairs told OilNOW in a recent interview.
The report said Phase 3 will follow closely. “These first three phases will develop approximately 2 billion oil-equivalent barrels of the 3.2 billion oil-equivalent barrels discovered to date. Additional phases are being defined to develop the remaining resource.”
The company has already submitted an application to Guyana’s Environmental Protection Agency (EPA) for environmental authorization as part of it’s plans for a production concept for Liza Phase 2.
ExxonMobil Affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.
