February 11, 2022
Production at the Liza Unity floating, production, storage and offloading (FPSO) vessel is expected to reach its target of 220,000 barrels of oil later this year, as operations continue to be brought safely online. It adds to the more than 120,000 barrels per day of capacity at the Liza Destiny FPSO, which began production in December 2019. The Stabroek Block’s recoverable resource base is currently estimated at more than 10 billion oil-equivalent barrels and scientists and industry men believe Guyana has the potential to support up to 10 FPSO vessel type projects.
“We are collaborating closely with the government and people of Guyana to develop this world-class resource responsibly, helping to meet the world’s energy needs and delivering enhanced value for all stakeholders at a record pace and well ahead of the industry average,” Liam Mallon said, President of ExxonMobil Upstream Oil and Gas.
ExxonMobil anticipates that four FPSOs with a capacity of more than 800,000 barrels per day will be in operation on the Stabroek Block by year-end 2025. Payara, the third project in the Stabroek Block, is expected to produce approximately 220,000 barrels of oil per day using the Prosperity FPSO vessel, which is currently under construction. The field development plan and application for environmental authorization for the Yellowtail project, the fourth project in the block, have been submitted for government and regulatory approval.
Timely development of these additional projects and continued exploration success offshore will enable the steady advancement of Guyanese capabilities and enhanced economic growth. More than 3,500 Guyanese are now supporting ExxonMobil’s activities in Guyana. ExxonMobil and its direct contractors spent approximately $219 million with more than 880 local suppliers in 2021, a 37% year-over-year increase.
The Liza Unity arrived in Guyana in October 2021. It is moored in water depth of about 1,650 meters and will be able to store around 2 million barrels of crude. Additionally, the Liza Unity FPSO vessel has been awarded the SUSTAIN-1 notation by the American Bureau of Shipping in recognition of the sustainability of its design, documentation, and operational procedures.
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