'No gas crunch for Wales GTE despite rapid depletion of oil reserves at Liza fields' - says Exxon

‘No gas crunch for Wales GTE despite rapid depletion of oil reserves at Liza fields’ – says Exxon

Jun 02, 2026 News

(Kaieteur News) – Although the oil in Liza One and Liza Two in the Stabroek block can be drained before the 20-year lifespan, gas flow to the Wales Development zone, to power electricity and other industries will not be affected.

This was explained by President of ExxonMobil Guyana Limited (EMGL), Alistair Routledge in response to a question posed by this newspaper.

Concerns were previously raised by Guyanese regarding the availability of gas to power the project after oil production ceases at the two projects. It was previously explained that the company could move to nearby projects to supplement the resources required. This would however further drive up the ballooning bill for the Wales development.

'No gas crunch for Wales GTE despite rapid depletion of oil reserves at Liza fields' - says Exxon

ExxonMobil Headquarters at Ogle, East Coast Demerara

Nevertheless, Exxon explained, “Don’t worry there’s still plenty gas. So what happens typically I mentioned earlier is as the life of the field progresses, the mix of the fluids that we are seeing from the wells changes. And so while the oil, the relative amount of oil may decline and often is replaced by water, the gas is still coming through so we are currently gas constraint. The production on Liza, we can produce more if we had more gas compression facilities…so it does not affect the supply of gas to Wales.”

In January this year, Kaieteur News reported that the blistering extraction rates by the American oil giant currently have slashed the projected lifespan of the two developments. Resources from both projects are scheduled to supply the Gas-to-Energy (GTE) project. In fact, the pipeline, already completed by Exxon, is connected to the two offshore projects. Although the connection has been completed, gas is not currently being transported to Wales as the power plant and Natural Gas Liquids (NGL) facility remains under construction.

This newspaper reported that what should have been a 20-year project life for each development could be reduced to half at current production rates.

Data available on the Ministry of Natural Resources website indicate that in 2025 Liza One produced an average 140,000 barrels per day (bpd) or 51.1M barrels during the year. Further, based on previous reports of the remaining resources in early 2025, it can be deduced that only about 188,940,000 barrels remain at Liza One. At current production levels, the life of that project could come to an end in just over three years. The Liza One project, which commenced oil production in December 2019, has a reserve of 452 million barrels of oil (MBO).

Similarly, the Data Centre on the ministry’s website shows that about 250,000 bpd was produced at Liza Two in 2025 or a total of 91,250,000 barrels during the year. At current production levels, the 255,750,000 barrels remaining could be depleted in a little over two years.

The Liza Two project has a reserve of about 570 MBO. That project commenced production in February 2022. ExxonMobil in consultation with the government has increased oil production at the two developments which have resulted in the reduced project life.

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ExxonMobil Guyana, Liza fields, natural gas liquids, oil reserves, Wales GtE

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