ExxonMobil proceeds with Guyana development

10 May 2019

ExxonMobil has received government and regulatory approvals for the funding and development of Liza Phase 2, located offshore Guyana. Liza Phase 2 will produce up to 220,000 bpd and further capitalize on the development potential of the Stabroek Block, where ExxonMobil estimates producing more than 750,000 bpd by 2025.

A total of six drill centres are planned as well as approximately 30 wells, including 15 production, nine water injection and six gas injection wells. Phase 2 start-up is expected in mid-2022 and will develop approximately 600 million bbl. Liza Phase 2 is expected to cost USD$6 billion, including a lease capitalisation cost of approximately US$1.6 billion, for the Liza Unity floating production, storage and offloading (FPSO) vessel.

Image courtesy of Offshore Energy Today