Stabroek Block co-venturers initiate purchase of Liza Unity FPSO

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Hess Corporation on October 25 indicated, in a Q3 earnings report, that the purchase process for the Liza Unity floating production, storage and offloading (FPSO) unit has begun. 

The FPSO is currently producing approximately 250,000 barrels of oil per day (bpd) in Guyana’s offshore Stabroek Block, operated by ExxonMobil. Built by SBM Offshore, Liza Unity’s sustainable design is trendsetting.

Hess said it revised its full year 2023 exploration and production (E&P) capital and exploratory to US$4.1 billion, “up from previous guidance of $3.7 billion, reflecting the decision to purchase the Liza Unity FPSO in the fourth quarter of 2023 instead of the first quarter of 2024.”

ExxonMobil holds a 45% stake in the Stabroek Block, while CNOOC holds 25%, and Hess holds 30%. Hess Guyana’s parent company, Hess International, was recently acquired by Chevron, which will assume all its financial responsibilities. 

The Stabroek Block co-venturers had also indicated intent to purchase the Liza Destiny – Guyana’s first oil production vessel. 

Liza Destiny was designed to produce 120,000 barrels of oil per day with a storage capacity of 1.6 million barrels. After debottlenecking activities, Exxon increased production to 150,000 bpd. In 2021, the Destiny was ranked fourth among the top five highest-scoring units for safety in SBM Offshore’s global fleet. 

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