Data from Guyana’s Ministry of Natural Resources indicates that in the month of February, ExxonMobil’s Liza 1 and 2 developments demonstrated the steadiest output at their respective peak ranges since production began. Payara was also stable with just a few days of dips in output.
The Stabroek Block projects, including Payara, collectively averaged 626,000 barrels per day (b/d). This is a 4% increase from the 602,000 b/d rate in January. However, given fewer days in the month, total production in February decreased to 18.2 million barrels from 18.7 million in January.
While they collectively peaked at 647,000 b/d on February 26, the projects’ individual peaks indicate they can produce as high as 652,000 b/d.
Liza 1 averaged 160,000 b/d and peaked at 163,000 b/d.
Liza 2 averaged 252,000 b/d and peaked at 254,000 b/d.
Payara averaged 214,000 b/d and peaked at 235,000 b/d. Payara achieved first oil in November 2023 and surpassed its initial target production of 220,000 b/d in January. Exxon intends to optimize production at this project to hit 250,000 b/d.
Exxon plans to take the Liza field offline for a few weeks in the second half of the year. The period will facilitate hook up for the Gas-to-Energy pipeline.
All the FPSOs operating offshore Guyana to date have been built by Dutch floater specialist, SBM Offshore.
ExxonMobil has a 45% operating stake in the Stabroek Block, while Hess has a 30% stake and China’s CNOOC has a 25% stake.
