ExxonMobil updates govt. officials during Texas visit

Aug 15, 2017 News

Several government officials were recently updated on the operations of ExxonMobil in Guyana and the development of the Stabroek Block where petroleum was found.

The Guyana delegation flanked by ExxonMobil officials.

Government Ministers Carl Greenidge, Raphael Trotman, Winston Jordan, David Patterson and Dominic Gaskin, together with Presidential Advisor, Dr. Jan Mangal, and Technical Officers, Teresa Gaime and Kiran Mattai, of the Ministry of Natural Resources and the Guyana Energy Agency respectively, participated in meetings and briefings with officials of the ExxonMobil Development Co. and ExxonMobil Gas and Power Marketing Co. at the ExxonMobil Campus in Houston, Texas, USA.

This information was made available yesterday via a public missive sent out by the Ministry of Natural Resources.

It was disclosed that the visit lasted for two days, August 10 and 11.

The Ministry was keen to note that the Government is a 50 per cent partner with ExxonMobil, Hess and CNOOC Nexen for the development of the Stabroek Block.

The release stated that several Ministers had attended similar briefings in 2016, and it was decided then, to have annual engagements of a comprehensive nature in preparation for ‘first oil’ in 2020 and beyond.

These meetings follow closely on the award of a Production Licence by the Government of Guyana for the Lisa Phase one development in June 2017, ExxonMobil’s and partners – Hess’ and CNOOC Nexen’s subsequent Final Investment Decision (FID), and the quantification of petroleum in the Payara well in July 2017, and were considered timely.

The Ministry of Natural Resources noted that during the recent visit, Ministers were provided updates on developments with the Liza Phases one and two.

They were told that Phase one is scheduled to commence in 2020 to recover approximately 500,000,000 barrels of oil at a rate of 120,000 barrels per day (bpd). Phase two is expected to recover the remaining resource in the Lisa field in 2023 and beyond.

The delegation was also told that contracts have been awarded for the Floating Production Storage and Offloading (FPSO) vessel and the sub-sea infrastructure and connections necessary for production in deep-sea.

Further, the Ministers were briefed, and engaged in discussions, on the advancements of the proposed project to utilise available natural gas for energy generation by GPL and scrutinized the various financial and fiscal models that will emerge from oil revenues in the post 2020 period.

According to the Ministry, government officials and ExxonMobil expressed confidence and satisfaction in the process and undertook to have follow-up discussions on the natural gas project within two months.

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