Friday, September 29, 2023

Plans to ramp up production to 340,000 bpd by 2022 on schedule – Energy Department

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The giant Liza Phase 2 Development Project offshore Guyana remains on course for production startup in 2022, the country’s Department of Energy (DE) has said.

Liza Phase 2 will have a production rate of up to 220,000 barrels of oil per day (bpd), almost double the capacity of the Liza Phase 1 project which commenced oil production in late December 2019 and will produce 120,000 bpd at peak.

DE Director Dr. Mark Bynoe told reporters on Monday that topsides fabrication for the Liza Unity FPSO being built by SBM Offshore is progressing well with all 19 modules under construction. The vessel hull arrived at the Keppel shipyard in January.

Touching on the other preparations for the Liza Phase 2 project, Dr. Bynoe said, “Several trees/tubing heads have been completed, with the first two trees having been shipped to Trinidad from Brazil, with trees 3-8 expected to be shipped shortly.”

He pointed out that development drilling has commenced as well as the installation of the risers. The Operator – ExxonMobil – is working with the DE to include Guyanese expertise in various stages of the Unity’s completion as per the Field Development Plan approval. “This project remains on schedule,” the DE Director said.

Energy research company Rystad Energy has ranked the Liza Phase 2 as being among the top 15 approved offshore projects in the world for 2019 in terms of capital expenditure and facility type.

The US$6 billion Liza Phase 2 Development project sanctioned in May 2019, will be targeting 600 million barrels of oil when it gets underway.

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