Liza Phase One to produce 120,000 barrels by June

May 07, 2020 News

Since coming on stream on December 20, 2019, the Liza Phase One project in the Stabroek Block has produced over eight million barrels of oil with an average daily production of 75,000 to 80, 000 barrels of oil per day. Informing the media of this recently was Energy Department Head, Dr. Mark Bynoe.
During a press briefing on Monday, Dr. Bynoe said that the Liza Phase One project is expected to ramp up to full capacity by early June. By that time, it would be producing 120, 000 barrels of oil per day.
Turning his attention to a wider challenge in the global oil industry, Dr. Bynoe alluded to the fact that the depressed demand for oil has forced many producing countries to close off producing wells. But the same cannot be done for Guyana, expressed the Director. The official said he had several discussions with industry experts and the general impression is that Guyana should continue producing and do nothing that could jeopardize the operational integrity of the Liza well. The Director said that shutting down the well can prove costly and detrimental to any production from that reservoir.
The Liza Phase One Project is expected to last for 20 years. At the end of the approximately 20 year life of project, ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) would develop a plan to decommission the offshore production facilities. The plan would have to be approved by the government.

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