Monday, March 27, 2023

Guyana’s Stabroek Block produced 11.5 million barrels of crude in January 2023

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ExxonMobil produced 11.5 million barrels of crude oil from the Stabroek Block’s Liza projects in January, marking a strong open to 2023. Production averaged 372,000 barrels per day (bpd), according to data from Guyana’s Petroleum Management Programme.

The Liza Phase 1 project, supported by the Liza Destiny floating production, storage, and offloading (FPSO) vessel, averaged 146,000 barrels per day (bpd). It produced 4.5 million barrels over the full month.

The Liza Phase 2 project, supported by Liza Unity, averaged 226,000 bpd. It produced 7 million barrels over the full month.

Output from the block peaked at 400,000 barrels on January 12, its highest ever daily production.

The Stabroek Block is forecasted to produce 374,000 bpd in 2023. This will be impacted by the start-up of the Payara project. The Prosperity FPSO has left Singapore for its journey to Guyana and will take Stabroek Block output capacity to 600,000 bpd. 

ExxonMobil is the operator of the Stabroek Block with a 45% stake, supported by Hess (30%) and CNOOC (25%). ExxonMobil has discovered 11 billion barrels of oil-equivalent there, and plans to place six FPSOs offshore Guyana by 2027.

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