Production at Liza Phase 1 expected to hit 120,000 barrels per day by June – Dr. Bynoe

Must Read

Seadrill targeted in operation carwash probe

Offshore drilling company, Seadrill Ltd., has been targeted in the ongoing criminal investigation by the Federal Police...

Over 1,000 surveys conducted with Guyanese companies to guide capacity building activities for oil and gas

The Center for Local Business Development (CLBD) is continuing its push to improve the capabilities of Guyanese...

Guyana can become world supplier of natural gas – Bobby Gossai Jr.

Guyana can become a world supplier of Liquified Natural Gas (LNG) in the coming years, given the...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

Oil production from the Liza Phase 1 Development is expected to reach its full capacity of 120,000 barrels per day by early June according to the Director of the Department of Energy in Guyana, Dr. Mark Bynoe.

He told reporters at a press update on Monday that production from Liza Phase 1 has to date reached over 8 million barrels of oil with average daily production of 75,000 to 80,000 barrels.

“We’ve had some teething problems during the commissioning phase; thus, it has delayed the ramping up to 120,000 that we had anticipated,” he said.

Production at the Liza Phase 1 Development got underway in December last. Guyana lifted it first 1 million barrels of crude in February earning almost US$55 million. The country has since collected royalty payments for the months of January to March, totaling US$5 million.

- Advertisement -

Latest News

Seadrill targeted in operation carwash probe

Offshore drilling company, Seadrill Ltd., has been targeted in the ongoing criminal investigation by the Federal Police...

Over 1,000 surveys conducted with Guyanese companies to guide capacity building activities for oil and gas

The Center for Local Business Development (CLBD) is continuing its push to improve the capabilities of Guyanese companies to tap into opportunities...

Guyana can become world supplier of natural gas – Bobby Gossai Jr.

Guyana can become a world supplier of Liquified Natural Gas (LNG) in the coming years, given the vast hydrocarbon resources found offshore...

Guyana remains confident in ICJ, committed to international law – President Ali tells UN General Assembly

In his inaugural address to the United Nations General Assembly on Wednesday, September 23, Guyana’s President, Dr. Irfaan Ali, affirmed the South...

Iranian super tanker ‘horse’ set to violate U.S. sanctions again by shipping Venezuela crude

(Bloomberg) --After defying U.S. sanctions by shipping a cargo of oil condensate to Venezuela just last week, Iran is using the same...

More Articles Like This