Sunday, September 24, 2023

Stabroek Block supplied 12 million crude barrels to market in July

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In July 2023, the Liza projects at Guyana’s Stabroek Block continued to demonstrate reliable production. An analysis of data supplied by the Ministry of Natural Resources shows that the projects collectively averaged 387,620 barrels per day (bpd) in July, amassing a grand total of 12.02 million barrels. This continues a trend of stable production in 2023.

The Liza-1 project averaged 148,170 bpd, accumulating to 4.59 million barrels of Liza Crude over the month. Despite the minor fluctuations throughout the month, the Liza project remained relatively consistent in its daily output.

The Liza-2 project averaged a commendable 239,450 bpd. This contributed a total of 7.42 million barrels of Unity Gold crude for the entire month.

Table shows volumes produced in the first seven months of 2023

The Liza field is poised to end the year with an output close to 140 million barrels. Nevertheless, enhancements at Liza Phase 2 and the initiation of the Payara project will influence production in the Stabroek Block. The partners of the Stabroek Block have scheduled downtime to optimise Liza-2, aiming to boost production to 250,000 bpd. Regarding Payara, its production is set to commence in the early fourth quarter, with an anticipated output of about 220,000 bpd approximately five months post-launch.

ExxonMobil is the operator of the Stabroek Block (45%), while Hess (30%) and CNOOC (25%) are its partners. 

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