Latest update September 22nd, 2026 10:30 AM
ExxonMobil estimate jumps to 5.5B barrels
The gross recoverable resource from the Stabroek Block offshore Guyana has now increased to approximately 5.5 billion oil-equivalent barrels.
EEPGL’s Senior Director of Public and Government Affairs, Deedra Moe
This is according to Deedra Moe, the Senior Director of Public and Government Affairs at Esso Exploration and Production Guyana Limited (EEPGL). EEPGL is a subsidiary of ExxonMobil.
Moe said that this estimated resource update includes the recent Tilapia-1 and Haimara-1 discoveries.
She said, “Exploration activity in the Stabroek Block is continuing. The Noble Tom Madden drillship will next drill the Yellowtail-1 well, approximately six miles (10 kilometers) west of Tilapia-1 in the Turbot area.
“The Stena Caren will next return to the Longtail discovery to complete a well test. Baseline 4-D seismic data acquisition is also underway.”
The Senior Director of Government Affairs said that there is potential for at least five floating, production storage and offloading vessels (FPSO) on the Stabroek Block producing more than 750,000 barrels of oil per day by 2025.
Further to this, Moe said that the Liza Phase One development is progressing on schedule and is expected to begin producing up to 120,000 barrels of oil per day in early 2020, utilizing the Liza Destiny FPSO.
Pending government and regulatory approvals, the Senior Director said that Liza Phase Two will use a second FPSO designed to produce up to 220,000 barrels per day. She noted that start-up is expected by mid-2022.
Moe said that a third development, Payara, is being planned, with startup expected as early as 2023.
Share this:
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.
Similar Articles
Website Hits
Blunt of the day
Sports
Features/Columnists
Sir. Ronald Sanders
The GHK Lall Column
Weekend Cartoon
