Middle East

ExxonMobil begins production from second FPSO

January 28, 2022

Liza Unity will be Guyana’s second-produced FPSO.It recently reached the waters of the country-Image Credit: SBM Offshore

ExxonMobil will begin production on Guyana’s second oil platform next month, a person familiar with the matter said Tuesday.

Guyana is one of Exxon’s biggest bets on production growth. The recent findings are expected to exceed 10 billion barrels of recoverable oil and gas, he said.

The second vessel, Liza Unity, will almost triple the production of South American countries this year from about 120,000 barrels / day to 340,000 barrels of oil and gas per day. Exxon and its partners control all production in early oil countries, which began production in 2019. The Exxon-led consortium operates the Stabroke block off the coast of Guyana.

Exxon is a 45% stake operator, US oil company Hess Corp has a 30% stake, and China’s CNOOC Ltd has a 25% stake.

The new quantity estimates will include oil and gas from the Fangtooth-1 and LauLau-1 wells released earlier this month. In total, the consortium has disclosed 28 important discoveries in the country.

Hess, which released its fourth-quarter earnings on Wednesday, said Stavroque Brock is forecasting to produce 1 million barrels of oil and gas per day in Guyana by 2027.

one third Floating production storage and unloading (FPSO) vessel named ProsperityIs under construction and will supply the first oil in 2024.

The consortium Guyana’s 7 and 10 platformsOfficials said.

Report by Sabrina Valle; edited by Cynthia Osterman

https://www.oedigital.com/news/493871-exxonmobil-to-start-production-from-second-fpso-in-guyana-next-month ExxonMobil begins production from second FPSO

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