ExxonMobil to Proceed with Liza Phase 2 Development Offshore Guyana
03 Mayo 2019 - 1:00PM
Business Wire
- Liza Phase 2 received government and
regulatory approvals and remains on track for mid-2022, producing
up to 220,000 barrels of oil per day
- Phase 1 on schedule for first oil by
first quarter of 2020
- Guyanese direct and indirect workforce
more than doubled in 2018 to more than 1,000
ExxonMobil said today it has funded the Liza Phase 2 development
offshore Guyana after it received government and regulatory
approvals. Liza Phase 2 will produce up to 220,000 barrels of oil
per day and further capitalize on the significant development
potential of the Stabroek Block, where ExxonMobil estimates
producing more than 750,000 barrels of oil per day by 2025.
A total of six drill centers are planned as well as
approximately 30 wells, including 15 production, nine water
injection and six gas injection wells. Phase 2 startup is expected
in mid-2022 and will develop approximately 600 million barrels of
oil. Liza Phase 2 is expected to cost $6 billion, including a lease
capitalization cost of approximately $1.6 billion, for the Liza
Unity floating production, storage and offloading (FPSO)
vessel.
“With the government of Guyana and our partners, ExxonMobil is
bringing industry-leading upstream capabilities to build upon Phase
1 and further develop the shared value of Guyana’s resources,” said
Liam Mallon, president of ExxonMobil Upstream Oil & Gas
Company. “We are actively pursuing significant development
potential from numerous discoveries in the Stabroek Block.”
Liza Phase 1 remains on track to achieve first oil by the first
quarter of 2020. It will produce up to 120,000 barrels of oil per
day at peak rates utilizing the Liza Destiny FPSO, which is
expected to arrive offshore Guyana in the third quarter of
2019.
Pending government and regulatory approvals, a final investment
decision is expected later this year for a third phase of
development, Payara, which is expected to produce between 180,000
and 220,000 barrels per day with startup as early as 2023.
ExxonMobil is evaluating additional development potential in other
areas of the Stabroek Block, including at the Turbot area and
Hammerhead.
By the end of 2019 ExxonMobil will have four drillships
operating offshore Guyana. Following well completion activities at
the recently announced Yellowtail discovery, the Noble Tom Madden
will move to the Hammerhead-2 well. The Stena Carron is completing
a well test at the Longtail-1 discovery, and will then move to the
Hammerhead-3 well.
Later in 2019, the Stena Carron will drill a second well at the
Ranger discovery. The Noble Bob Douglas drillship is completing
development drilling operations for Liza Phase 1. ExxonMobil will
add another exploration drillship, the Noble Don Taylor, in the
fourth quarter of 2019.
As the projects proceed, the partners’ investment in the
Guyanese economy continues to increase. The number of Guyanese
nationals supporting project activities more than doubled in 2018
to more than 1,000. ExxonMobil and its co-venturers spent nearly
$60 million with more than 500 Guyanese vendors in 2018. More than
1,500 Guyanese companies are registered with the Centre for Local
Business Development, which was founded by ExxonMobil and its
co-venturers in 2017 with the mission of supporting local
businesses to become globally competitive.
The Stabroek Block is 6.6 million acres, or 26,800 square
kilometers. Current discovered recoverable resources are estimated
at more than 5.5 billion barrels of oil equivalent. The 13
discoveries on the block to date have established the potential for
at least five FPSO vessels producing more than 750,000 barrels of
oil per day by 2025. ExxonMobil affiliate Esso Exploration and
Production Guyana Limited is operator and holds 45 percent interest
in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30
percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned
subsidiary of CNOOC Limited, holds 25 percent interest.
Cautionary Note:
Statements that reference future events or conditions in this
press release are forward-looking statements. Actual future
results, including project plans, costs, and schedules, production
rates, and resource recoveries may differ significantly from the
forecasts, depending on changes in long-term oil or gas prices and
other market or economic factors that affect the petroleum
industry; the timely completion of development programs and the
outcome of future exploration programs; reservoir performance;
unexpected technical difficulties or other technical or operating
factors; the actions of governmental authorities or regulatory
agencies, including obtaining necessary permits and approvals; the
outcome of commercial negotiations; and other factors listed under
the heading “Factors Affecting Future Results” on the Investor page
at the ExxonMobil website at www.exxonmobil.com and in Item 1A of
ExxonMobil’s most recent Form 10-K. References to recoverable
resources and other quantities of oil or gas in this release
include volumes that are not yet classified as proved reserves
under SEC definitions, but that are expected to be ultimately
recoverable. The term “project” in this release may refer to a
variety of different activities and does not necessarily have the
same meaning as in any government payment transparency reports.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and
gas company, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is the largest refiner and marketer of
petroleum products, and its chemical company is one of the largest
in the world. Follow ExxonMobil on Twitter at
www.twitter.com/exxonmobil.
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