Tuesday, November 29, 2022

Guyana oil production hits highest recorded output in September

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Guyana’s oil production hit a massive 391.98 thousand barrels of oil per day on September 23 this year, making it the highest output ever recorded since production began in 2019 at the ExxonMobil-operated Stabroek Block.

This has been made possible with the addition of a second floating production storage and offloading (FPSO) vessel – Liza Unity – earlier this year. The first oil production vessel to operate offshore the South American country is the Liza Destiny.

Government applauds first oil from Liza Unity FPSO; earnings set to triple

Data from the Ministry of Natural Resources Petroleum Management Programme show production from the Destiny and Unity FPSOs hit a peak of 151.13 and 240.86 thousand barrels of oil per day respectively, on September 23. This is part of a gradual ramp up in output seen over the last several months.

Guyana rakes in biggest quarterly windfall from oil production

With 10 FPSOs expected to be operating at the Stabroek Block by the end of the decade, at the current ramp up rates, Guyana’s production will easily exceed 2 million barrels of oil per day. This will place it at number two for Latin America and the Caribbean, just behind Brazil, and ahead of Mexico. Current output places Guyana at number 7.

Demand for shore base capacity in Guyana to skyrocket with 10 FPSOs in play

Exxon has found approximately 11 billion barrels of oil equivalent resources at the Stabroek Block since 2015 spread across over 30 discoveries.

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