Latest update July 4th, 2026 12:40 AM
Liza Destiny experiences operational slippages – Dr. Bynoe
With the quarantine period in place in most economies, Energy Department Director, Dr. Mark Bynoe said that one can expect slippages in the work plans for most offshore vessels. With this in mind, he disclosed that the Liza Destiny, Guyana’s first Floating Production Storage and Offloading (FPSO) Vessel, is no different.
During a recently held press conference, Dr. Bynoe said that the department has seen operational slippages due to the inability to complete the commissioning phase of operations and ramp-up to steady state production. He said that this was due to some challenges with the gas compressor. Be that as it may, other activities offshore are continuing. In this regard, Dr. Bynoe said that drilling work is continuing with two active rigs which are focused mainly on drilling water injection wells for the Liza Destiny. There are also two hot-stack rigs that are on standby as they require crew change.
Dr. Bynoe was keen to note that there has been some restriction on drilling operations in an effort to reduce exposure to the global pandemic as well as taking into account the state of the industry.
Over the life of the project, Liza Phase One is expected to generate over $7 billion in royalty and profit oil revenues for Guyana. The project involves the Liza Destiny which was a conversion of an oil tanker into a floating, production, storage and offloading vessel, along with four undersea drill centers with 17 production wells. ExxonMobil officials have said that Liza Destiny will have a production capacity of 120,000 barrels of oil per day. Current production averages around 80,000 barrels of oil per day. But it is expected to reach full capacity by June.
A second FPSO with a capacity of 220,000 barrels per day is still under construction as part of the Liza Phase Two development, and a third is under consideration for the Payara development. Together, ExxonMobil said that these three developments will produce more than 500,000 barrels of oil per day.
The Stabroek Block is 6.6 million acres (26,800 square kilometers). Esso Exploration and Production Guyana Limited is the main operator and holds 45 percent interest. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.
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