ExxonMobil’s Liza 2 and Payara projects in Guyana could each produce up to 265,000 barrels per day (b/d) once government regulators approve the proposed production increases. The two projects currently have demonstrated production capacity of 250,000 b/d each.
ExxonMobil Guyana President, Alistair Routledge told reporters on Wednesday about the anticipated increases. “We think that we should be in the sort of 260[000] to 265,000 barrels per day potential capacity,” Routledge stated.
He stated that the Guyana government had sent representatives offshore to inspect the respective floating production, storage, and offloading vessels (FPSO) as part of the review process for the requested increases.
Guyana oil production averaged 656,000 b/d in December | OilNOW
“They wanted to go out and specifically check some of the work and calculations that we’ve made and to verify that indeed we have all the safety measures in place,” Routledge stated.
Both projects were initially designed with a capacity of 220,000 b/d. However, after successfully reaching this level in production, ExxonMobil implemented optimization measures that increased output to 250,000 b/d. Now, with further optimization, production could be expanded by an additional 15,000 b/d per project, bringing the total potential increase across both projects to 30,000 b/d. This would lead to higher revenues for both the ExxonMobil-led Stabroek Block consortium and the Guyana government.
Table shows effect of optimization on ExxonMobil Guyana’s production rates
