ExxonMobil begins production at the second offshore oil field in Guyana

ExxonMobil has announced the start of production in Lisa Unity facility, the second offshore oil development in Guyana on the oil-rich Stabrook block. As a result of the development, Guyana’s total production reaches more than 340,000 barrels per day (barrels per day), seven years after significant oil reserves were discovered there.

The Liza Unity is the world’s first floating vessel for production, storage and unloading (FPSO), which has been awarded the SUSTAIN-1 mark by the U.S. Shipping Bureau as a result of its sustainable design and operating procedures.

Currently, production at the Stabrook unit is more than 10 billion barrels of oil equivalent, and production at Liza Unity is expected to reach the target of 220,000 barrels of oil later this year.

“We are working closely with the Government and people of Guyana to responsibly develop this world-class resource, helping to meet global energy needs and deliver increased value to all stakeholders at a record pace and well ahead of the industry average.” said Liam Mellon, president of ExxonMobil for oil and gas. “With the unprecedented execution of the project, we now have two production facilities operating offshore in Guyana.”

Another Exxon project, Liza Destiny, began production in December 2019, reaching a maximum capacity of 120,000 barrels per day in December 2020.

The U.S. multinational company predicts that the site could potentially support up to ten FPSOs, with four vessels expected to operate on the unit by 2025 with a total capacity of more than 800,000 barrels per day.

Because Guyana’s significant reserves were only a recent discovery, the country now relies on imports for most of its energy needs, making electricity expensive and often unreliable. ExxonMobil has led the restructuring of the country as a new energy hub ready for adoption, with Exxon at the helm.

Last year the band did too announced plans to build a 220 km submarine pipeline with a transport capacity of about 50 million cubic feet per day, serving Exxon Liza projects. The construction of this gas pipeline is expected to start this year.

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