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Guyana producing “approx. 75,000 barrels” of oil per day – To reach full capacity in the coming months

Jan 30, 2020 News

Chief Executive Officer (CEO) of Hess Corporation, John Hess, revealed yesterday that the Liza Phase One production continues to ramp up with current gross production pegged at approximately 75,000 barrels of oil per day.
During the company’s fourth quarter earnings call for 2019, he said that production is expected to reach the Liza Destiny FPSO capacity of 120,000 barrels of oil per day in the coming months. For the full year 2020, he said that Hess forecasts its net production to average approximately 25,000 barrels of oil per day.
Further to this, Hess reminded that it was on December 20, 2019 that the Liza Phase One development achieved first production, while noting that his company recognizes this pivotal moment in Guyana’s history. On this note, he said, “…And (we) are committed to working collaboratively with the government, our partners and the people of Guyana to build a safe and sustainable industry that fulfills the promise of shared prosperity.”
Turning his attention to the Liza Phase Two project, Hess said that the development is progressing to plan. He said that on January 13, the hull for the Liza Unity FPSO, which will have a capacity of 220,000 barrels of oil per day arrived at the Keppel yard in Singapore. The CEO said that construction of all 13 deck modules is currently underway.
Meanwhile, in Guyana, Hess said that installation of subsea flow lines and equipment is underway while adding that development drilling is expected to begin next month. “We continue to forecast first oil by mid-2022,” the CEO added.
Pending government approvals and project sanctioning, the Chief Executive Officer said that a third development at Payara is planned to utilize a FPSO with a gross production capacity of 220,000 barrels of oil per day with first oil as early as 2023. Together with Hammerhead, discoveries on the southeast portion of the block including Turbot, Yellowtail, Longtail, Pluma, Tilapia and Tripletail will underpin future FPSOs.

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