Tuesday, October 3, 2023

Guyana’s oil production reached all-time high of 386,000 bpd at end of July

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Oil production offshore Guyana exceeded 386,000 barrels a day (bpd) in July, marking the highest production recorded in a day since first oil.

This data is publicly available via the Petroleum Management Program, an online portal available since early 2021 that makes basic production information available to the public.

July’s peak output of approximately 386,540 barrels topped the prior record of approximately 365,300 bpd which was observed on June 3.

These numbers were recorded based on combined production for the Liza Destiny and Liza Unity floating production, storage, and offloading (FPSO) vessels. Both vessels were able to exceed their stated production capacities of 140,000 bpd and 220,000 bpd, to reach approximately 153,560 barrels and 132,980 barrels on June 3.

Liza Destiny, particularly, has been able to exceed its initial nameplate capacity, by over 30,000 bpd. The vessel was designed to safely produce 120,000 bpd and was able to increase in oil production capacity based on debottlenecking work by ExxonMobil earlier this year.

Meanwhile, development drilling occurs offshore for the Payara development project, for which the Prosperity FPSO will produce 220,000 bpd after production begins at the end of 2023.

The ONE GUYANA floater will produce 250,000 bpd from 2025, on the way to at least six vessels offshore by 2027.

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