Exxon says daily output now over 645,000 barrels of oil per day from 3 ships

Feb 07, 2024 News

– aiming for 500 million barrels in total production

Kaieteur News – ExxonMobil Guyana Limited is now producing over 645,000 barrels of oil per day (bpd) from three ships in the Stabroek Block—Liza Destiny, Liza Unity and Prosperity.

This was revealed on Tuesday by Exxon Guyana’s Head, Alistair Routledge and his newly appointed Production Manager, Huzefa Ali.
During a press engagement at the company’s Kingstown office, Ali told reporters that the Liza Destiny is producing about 160,000 bpd while the Liza Unity is producing 250,000 bpd. As for the Prosperity, a floating, production, storage, and offloading (FPSO) unit that was commissioned in November last, it is already producing at 230,000 bpd.

Routledge was keen to note that the performance of the wells is a direct reflection of the hard work his team is doing, especially on the engineering front. He stressed that production increases never occur without strict safety reviews, risk assessments, and all of those being reviewed by the government and the Environmental Protection Agency (EPA).

“It’s all very carefully done to maximize the value of the production and the assets that we’ve all invested in together to make sure that we’re maximizing the value going forward,” said the Exxon official.

He noted that the company’s official goal is to get to a total cumulative output of 500 million barrels by year end, following start-up of operations in 2019. Regarding exploration, Routledge said the team has its eyes set on drilling the Red Mouth and Trumpet Fish wells, with the hopes that they are huge enough to support standalone projects.

Also on the cards for 2024 are five wells, some of which will properly test Guyana’s gas potential. Currently, Guyana’s gas reserves stand at 17 trillion standard cubic feet of gas. Routledge said this is spread across the entire block but hopefully this year’s drilling campaign will help to identify where most of the resources can be developed optimally.

While he could not give an exact value of the exploration and appraisal campaign, he noted that it can work out to US$60 million or even beyond US$75 million per well in some cases. He said the overall cost is dependent on a number of factors such as whether more tests are needed to understand a discovery.

With three projects in operation, Exxon said it looks forward to progressing with Guyana’s Yellowtail and Uaru Projects for which development wells are already being drilled. He noted that discussions remain ongoing with government for the approval of Exxon’s sixth project, Whiptail, by the end of this quarter. Collectively, Exxon said Guyana is on track to produce over 1.2 million barrels of oil per day by 2027 from the Stabroek Block.

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Exxon, gas, Guyana, oil, Payara, Stabroek Block, Yellowtail

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