ExxonMobil gunning for oil at Liza 5

Must Read

Liza and Kwaskwasi are giants in the prolific Guyana-Suriname basin

The Guyana-Suriname basin has been the subject of much discussion since US oil major ExxonMobil made its world class...

Stena Carron set to arrive at Tanager-1 today as search for more oil in Guyana continues

The hunt for more hydrocarbons continues offshore Guyana, this time outside of the prolific Stabroek Block, as ExxonMobil prepares...

Oil giants’ production cuts come to 1 million bpd as they post massive write-downs

(Reuters) - The world’s five largest oil companies collectively cut the value of their assets by nearly $50 billion...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

ExxonMobil is set to begin another drilling foray this week in search of more oil off the coast of the South American country of Guyana.

The company’s affiliate – Esso Exploration and Production Guyana Ltd. will begin a 3-month drill campaign at the Liza 5 well site located some 108 nautical miles off the country’s coast on March 7. A notice in the Guyana press says the foray will be undertaken by a total of 5 vessels. These are the Stena Carron, M/V Cat Island, M/V Hanna Chouest, HOS Commander and the M/V Fast Titan.

This new campaign comes in wake of the company’s 7th oil discovery at the Pacora reservoir announced last week. The company plans to develop Pacora alongside Payara, which will see a 3rd development project by 2023. The first development is set for March of 2020 with the Liza Phase 1 project which is expected to be followed by Liza Phase 2 in 2022.

Liza Phase 1 and 2 will produce around 1 billion barrels of oil utilizing two FPSO vessels while the combined Payara-Pacora development would see one FPSO being utilized.

“The Liza field is a stand-alone field we’re developing in two phases because it’s that large. Phase 1 will develop about half the resources and Phase 2 will develop the other half; and that’s about a billion barrels,” Kimberly Brasington, ExxonMobil’s Senior Director, Public and Government Affairs, recently told OilNOW.

The total estimated gross recoverable resource for the block now stands at 3.2 billion barrels, excluding discoveries at the Ranger and Pacora reservoirs which have not yet been fully assessed.

- Advertisement -

Latest News

Liza and Kwaskwasi are giants in the prolific Guyana-Suriname basin

The Guyana-Suriname basin has been the subject of much discussion since US oil major ExxonMobil made its world class...

Stena Carron set to arrive at Tanager-1 today as search for more oil in Guyana continues

The hunt for more hydrocarbons continues offshore Guyana, this time outside of the prolific Stabroek Block, as ExxonMobil prepares to conduct a new drill...

Principles for natural gas agreement with the Government of Guyana

The Guyanese government under the contract is likely to have its own share of profit hydrocarbons to lift, including natural gas. A state-owned oil...

Oil giants’ production cuts come to 1 million bpd as they post massive write-downs

(Reuters) - The world’s five largest oil companies collectively cut the value of their assets by nearly $50 billion in the second quarter, and...

Brazil doubled oil exports in July

(MercoPress) Brazilian oil exports more than doubled in July to 8.19 million tons, compared to 3.76 million tons shipped in July 2019, according to...

More Articles Like This