ExxonMobil has announced the beginning of production at the Liza Unity facility, Guyana’s second offshore oil development on the oil-rich Stabroek Block. The development takes Guyana’s overall production capacity to more than 340,000 barrels per day (bpd), seven years after significant oil reserves were discovered there.
The Liza Unity vessel is the world’s first floating, production, storage, and offloading vessel (FPSO) to be awarded the SUSTAIN-1 notation by the American Bureau of Shipping, as a result of its sustainable design and operational procedures.
Recoverable resources at the Stabroek Block are currently estimated to be more than 10 billion oil-equivalent barrels, with production at Liza Unity anticipated to reach a target of 220,000 barrels of oil later this year.
“We are collaborating closely with the government and people of Guyana to develop this world-class resource responsibly, helping to meet the world’s energy needs and delivering enhanced value for all stakeholders at a record pace and well ahead of the industry average,” said Liam Mallon, president of ExxonMobil upstream oil and gas. “With unparalleled project execution, we now have two production facilities operating offshore Guyana.”
Exxon’s other project, the Liza Destiny, began production in December 2019, reaching maximum capacity of 120,000 bpd in December 2020.
The American multinational predicts that the site can potentially support as many as ten FPSOs, with four vessels expected to be in operation on the Block by 2025 with an overall capacity of more than 800,000bpd.
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As Guyana’s significant reserves were only a recent discovery, the nation currently relies on imports for most of its energy needs, making electricity expensive and often unreliable. ExxonMobil has led the charge in reframing the country as a new energy hub ripe for the taking, with Exxon at the helm.
Last year, the group also announced plans for a 220km subsea pipeline with a transport capacity of around 50 million cubic feet per day, servicing Exxon’s Liza projects. Construction of this pipeline is anticipated to begin this year.