ExxonMobil is gradually increasing production offshore Guyana reaching an average of 660,000 barrels per day (b/d). Liza 1 and 2 averaged approximately 160,000 b/d and 251,000 b/d, while Payara averaged 249,000 b/d.
These production levels resulted in output of nearly 19.79 million barrels in September—the highest monthly output.
In the first three quarters of 2024, ExxonMobil produced more than 165 million barrels of crude oil at an average rate of 604,000 b/d at the Stabroek Block. All projects have produced above their initial production targets, due to successful debottlenecking activities. Liza 1 and 2 averaged 146,000 b/d and 227,000 b/d, while Payara averaged 231,000 b/d.
ExxonMobil conducted additional optimization work at the Liza 2 project during a shutdown period in July. The company is expected to increase output there after securing the regulatory greenlight.
The government projected that production in 2024 will total about 228 million barrels per day. This requires an average output of 680,000 b/d in the fourth quarter.
Exxon had said its goal is to accumulate production of 500 million barrels this year. This is likely to be achieved in the first week of December.
Next year, Exxon will add the Yellowtail project, boosting production capacity to more than 900,000 barrels per day (b/d).
ExxonMobil operates the Stabroek Block with a 45% stake, while Hess has 30% and CNOOC has 25%.
About Guyana’s Oil Ledger
Guyana’s Oil Ledger offers analyses of the latest oil production data and government oil fund receipts, published typically on a fortnightly basis. The column is authored by Kemol King, a journalist specializing in Guyana’s oil and gas sector.
