One of ExxonMobil’s key commitments to Guyana, according to President of Upstream Oil and Gas, Liam Mallon, is ensuring that it develops its business in a manner that provides sustainable benefits to all stakeholders.
A main pillar of that is the landmark Gas-to-Energy project.
“…a core piece of that [commitment] is providing affordable low emission energy to the people of this country, and moving away from imported fuel and providing much more reliable, safer, cleaner fuel and that is part of our sustainable development and our commitment to that sustainable development,” Mallon told OilNOW in a February 19 exclusive interview.
The project is meant to allow for the transport of a minimum of 50 million cubic feet of gas per day (MCFD) from the Liza field in the Stabroek Block to the Wales Development Zone. There, the plants will receive the gas to generate electricity for Guyana’s grid and natural gas liquids (NGLs) for domestic use.
It will also slash consumer electricity rates in half.
According to Mallon, Exxon always strives to “produce the products necessary for human society to progress.”
“We are continuing to do that,” he commented, adding, “We have been investing when other companies have been pulling back. We are doing so with lower emissions continually year-on-year and fundamental to all of that, part of our value system, is the sustainable development in countries in which we operate.”
A Final Investment Decision (FID) for the project is imminent.
Exxon is also considering options for gas development which could be used for export or used in-country for projects in addition to Gas-to-Energy.
During 2022, deemed Exxon’s best exploration year, Exxon added considerably to Guyana’s gas reserves, with the Barreleye, Sailfin, Lau-Lau, Patwa and Kiru Kiru wells estimated by Westwood Group to have more gas than oil. The Haimara discovery near the border with Suriname also contains high volumes of natural gas.
Guyana’s gas reserves currently stand at approximately 17 trillion cubic feet.
