ExxonMobil’s recently sanctioned Liza Phase 2 development offshore Guyana will be targeting 600 million barrels of oil when it gets underway in 2022.
The US$6 billion Liza Phase 2 Development project was sanctioned in May and will have a total of six drill centers as well as approximately 30 wells, including 15 production, nine water injection and six gas injection wells.
Commenting on the Phase 2 development, Chief Operating Officer at Hess Corporation, Greg Hill said, “Liza Phase 2, sanctioned in May, will utilize the Liza Unity FPSO where fabrication activities are currently underway. Liza Unity will have a gross production capacity of 220,000 barrels of oil per day and will develop approximately 600 million barrels of oil. First oil is expected by mid-2022.”
The US oil major will begin drilling development wells for Liza Phase 2 early 2020 and is already looking to bring in a fourth drill ship by the end of this year, to facilitate the process.
Pending government and regulatory approvals, a final investment decision could come by the end of this year for a third phase of development, Payara, which is expected to produce between 180,000 and 220,000 barrels per day with startup as early as 2023.
ExxonMobil is evaluating additional development potential in other areas of the Stabroek Block, including at the Turbot area and Hammerhead.
The Stabroek Block is 6.6 million acres, or 26,800 square kilometers. Current discovered recoverable resources are estimated at more than 6 billion barrels of oil equivalent. The 13 discoveries on the block to date have established the potential for at least five FPSO vessels producing more than 750,000 barrels of oil per day by 2025.
ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly owned subsidiary of CNOOC Limited, holds 25 percent interest.
