ExxonMobil Guyana sustained stable production at its Stabroek Block projects in November 2024, accumulating 205 million barrels since the year began, at an average rate of 612,000 barrels per day (b/d). The barrels are shared between Exxon, Hess, CNOOC and the Guyana government in a production-sharing deal that lets the companies recover their investments by taking up to 75% of crude annually.
In the period, Liza 1 produced 49.7 million barrels, while Liza 2 produced 76.9 million barrels, and Payara produced 78.5 million barrels.
Government projected in its Mid-Year report that production this year would be 228 million, but it is likely the year will close at 225 million barrels.
Production in November averaged 651,000 b/d, totaling 19.5 million barrels. This represented the second highest monthly rate of production, but the fourth highest monthly volume produced.
Liza 1 averaged 159,000 b/d, while Liza 2 averaged 242,000 b/d, and Payara averaged 250,000 b/d.
ExxonMobil operates the Stabroek Block with a 45% stake, while Hess has 30% and CNOOC has 25%.
Guyana’s Oil Ledger offers analyses of the latest oil production data and government oil fund receipts, published typically on a fortnightly basis. The column is authored by Kemol King, a journalist specializing in Guyana’s oil and gas sector.
