Liza 2 was second highest producing project in South America in 2022 – GlobalData

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Data analytics and information service, GlobalData, said ExxonMobil’s Liza Phase 2 project offshore Guyana had the second-highest oil and condensate production in South America in 2022. It expects the project to produce until 2043.

Below is a chart showing the movement of production, in thousands of barrels per day (kbpd), in 2022.

According to an Offshore Technology report, Liza 2 came second to the Buzios IV (Franco) project located in Rio de Janeiro, Brazil. The Petrobras-operated field produced approximately 160,000 barrels per day and recovered 28.05% of its total recoverable crude oil and condensate reserves, with peak production in 2022. GlobalData estimated that the production will continue until the field reaches its economic limit in 2048.

Liza 2’s production, though second in 2022, could be #1 in 2023 because it will produce a lot more crude. The project, supported by the Unity floating production, storage and offloading (FPSO) vessel, achieved first oil in February 2022. If one counts only the days since production started, instead of the full year, the project produced approximately 169,000 bpd. Further, the nameplate capacity of this project is 220,000 bpd, and with production optimisation set to be executed later this year, the project is likely to meet 250,000 barrels of crude per day (bpd). In 2023, up to April 30, Liza 2 has produced 225,000 bpd.

Liza 2’s sister project, Liza 1, is also producing tens of millions of barrels. It averaged 128,000 bpd in 2022. However, after being debottlenecked in 2022, production levels of 150,000 bpd have been demonstrated. In 2023, up to April 30, Liza 1 had produced 152,000 bpd.

Both Liza 1 and 2 are likely to top the charts for 2023. ExxonMobil is the operator, with a 45% stake, while Hess (30%) and CNOOC (25%) are its partners.

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