ExxonMobil Guyana produced 20.3 million barrels of crude in December 2024 at an average rate of approximately 656,000 barrels per day (b/d).
Production was nearly 156,000 b/d at Liza 1, 251,000 b/d at Liza 2, and 250,000 b/d at Payara.
December wrapped up a year that boosted oil production by 58% compared to 2023. ExxonMobil produced 225.4 million barrels. Of 225 lifts of crude, each approximately a million barrels, ExxonMobil lifted 88 million barrels, according to the Bank of Guyana. Hess lifted 59 million barrels, and CNOOC lifted 50 million barrels. The companies’ shares are determined by a production sharing agreement (PSA) that lets them (as a group) take up to 75% of annual production to recover their expenses. The remaining 25% is split 50-50 between the Guyana government and the Exxon-led group.
Production was stable through 2024, except in July when Exxon took the Liza projects offline to connect a gas pipeline for the Gas-to-Energy project. Over the full year, production averaged 149,000 b/d at Liza 1, 231,000 b/d at Liza 2, and 236,000 b/d at Payara.
ExxonMobil, the operator of the Stabroek Block, has a 45% stake, alongside Hess (30%) and CNOOC (25%). There, Exxon operates three developments with production capacity of 660,000 b/d. A fourth development is expected to begin production later this year, adding capacity of 250,000 b/d.
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.
