Production

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Guyana oil production hits 500,000 bpd as Payara ramp-up outpaces previous projects  

Kemol King -
Oil production in Guyana hit the half a million barrels per day milestone at the close of November with the addition of the Prosperity floating production, storage and offloading (FPSO) vessel at the ExxonMobil-operated Stabroek Block. This is according to...
Discoveries

Guyana is now a major competitive, policy-friendly player in global deepwater arena

OilNOW -
A massive infrastructure transformation and construction boom in South America’s lone English-speaking country are the most visible signs of the nation’s newfound wealth which is being delivered by huge oil fields under development offshore. And the latest World Economic...
Exploration

Exxon focusing on developing oil resources in Guyana; no financial backing in play for border controversy  

OilNOW -
ExxonMobil remains focused on developing the vast hydrocarbon resources offshore Guyana in keeping with the government's objective of moving these projects forward in a timely manner. The U.S. multinational says it is not playing a role in providing financial...
News

Liza Destiny production rebounds in October

Kemol King -
Production at the Liza 1 project rebounded in October, after which, the Liza Destiny floating production, storage and offloading (FPSO) vessel demonstrated levels in excess of 150,000 barrels per day (bpd). The project registered an average output of 140,780 bpd...
News

Liquid content in Guyana’s gas fields could prevent straightforward deployment of floating LNG facility

OilNOW -
With oil production in Guyana set to hit 600,000 barrels per day (bpd) next year and cross the one million bpd mark by 2027, monetizing the large volumes of associated gas discovered to date at the ExxonMobil-operated Stabroek Block...
Exploration

Guyana basin should achieve payback in under 10 years at an oil price of US$60-80 – WoodMac

OilNOW -
Analysts have said the significant sums Guyana is set to receive in oil revenue can make the country one of the richest in the world, per capita. The companies producing oil there are also set to receive massive returns...
News

Guyana crude blends capture bigger chunk of European market this year

OilNOW -
Driven by increased production by an ExxonMobil-led consortium operating off of its coast, and strong demand for light sweet crude grades, the South American country of Guyana has gained a larger share of Europe's oil market this year. Guyana's crude...
News

Guyana surpasses 100 million barrels of oil production in first nine months of 2023

Kemol King -
For the period January to September 2023, ExxonMobil produced over 102 million barrels of crude offshore Guyana. Two floating production, storage and offloading (FPSO) vessels operating in the Liza field hit the milestone together - Liza Destiny produced nearly...
News

Oil production begins at Exxon’s 3rd Guyana project pushing output to 620,000 bpd

OilNOW -
ExxonMobil announced on Tuesday that it has started producing oil at the massive Payara Development Project offshore Guyana, bringing total production capacity to approximately 620,000 barrels per day (bpd). The Prosperity floating, production, storage and offloading (FPSO) vessel is expected...
News

Guyana is key contributor to 100-million-barrel liquids production forecast

OilNOW -
Specialist market research and consultancy firm Westwood Global Energy Group says liquids production (crude, condensate and NGLs) is forecast at 100mmbpd by 2030, up 8% on 2022. This will be driven by increased crude production from deepwater areas, such...
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