ExxonMobil reported an achievement of record production from its projects in the Permian basin and Guyana during the second quarter of 2023. Surging beyond expectations, the company said its production levels witnessed a remarkable growth of over 20% compared to the same period in the previous year.
This was outlined in Exxon’s 2024 Advancing Climate Solutions report.
From the Liza 1 and 2 developments in Guyana’s Stabroek block, Exxon produced:
- 11.15 million barrels at 372,000 barrels per day in April;
- 11.61 million barrels at 374,000 barrels per day in May; and
- 11.06 million barrels at 395,000 barrels per day in June.
The output from the Stabroek block continued with similar rates in subsequent months, until climbing even higher with the start-up of the Payara project in November. Production from Guyana hit 550,000 barrels per day in January 2024.
At the Permian, Exxon produced around 620,000 barrels per day in Q2 2023.
All the production vessels currently in operation offshore Guyana have been built by Dutch floater specialist, SBM Offshore.
The Stabroek block’s increasing production has seen it move from 27.2 million barrels in 2020 to 101.3 million barrels in 2022. Production in 2023 totaled approximately 126 million barrels up to November. Production data for December has not been released.
ExxonMobil has a 45% operating stake in the Stabroek block, while Hess has a 30% stake and China’s CNOOC has a 25% stake.
