US energy giant ExxonMobil said on 3 May it has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals.

Liza Phase 2 will produce up to 220,000 barrels of oil per day and further capitalize on the significant development potential of the Stabroek Block, where ExxonMobil estimates producing more than 750,000 barrels of oil per day by 2025, ExxonMobil said, adding that the US company to proceed with Liza Phase 2 development offshore Guyana.

A total of six drill centres are planned, as well as approximately 30 wells that include 15 production, nine water injection, and six gas injection wells. The Phase 2 startup is expected in mid-2022 and will develop approximately 600 million barrels of oil. Liza Phase 2 is expected to cost $6 billion, including a lease capitalization cost of approximately $1.6 billion, for the Liza Unity floating production, storage and offloading (FPSO) vessel.

 

Full article available: https://www.neweurope.eu/article/exxonmobil-to-advance-liza-phase-2-offshore-development-in-guyana/

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