Guyana surpasses oil production milestone

Guyana surpasses 2024 oil production goal

GEORGETOWN, February 9, 2024 – Guyana has already surpassed its goal of producing 60,000 bopd from the Stabroek block in 2024, operator ExxonMobil announced on Tuesday.

According to ExxonMobil Guyana’s President Alistair Routledge, the company’s production at the concession is currently 645,000 bopd from its three FPSOs.

The Liza Destiny and Liza Unity located on the Liza field are currently producing around 160,000 bopd and 250,000 bopd respectively.

The Prosperity – ExxonMobil’s latest addition – is producing around 230,000 bopd from the Payura field.

Since its first find in 2015 at the 26,000-square-kilometre Stabroek concession, the American energy giant has uncovered 11 billion boe of recoverable oil and gas reserves through 46 discoveries.

ExxonMobil and its partners began production in 2019 at the block.

In November 2023, ExxonMobil began production from its Prosperity FPSO ahead of schedule.

The company has plans to install six FPSOs at the block.

The upcoming Yellowtail and Uaru projects have been approved and are expected to come on line in 2025 and 2026 respectively.

The FPSOs bound for each respective plays are expected to produce around 250,000 bopd each.

ExxonMobil is waiting for regulatory approval of the Whiptail development, its final planned project in the country.

The consortium plans to produce up to 1.2 million boe from the licence by 2027.

ExxonMobil operates the Stabroek block with a 45% stake, while partners Hess Corporation holds a 30% stake and China National Offshore Oil Corporation holds the remaining 25% stake.

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