Exxon Mobil touts success with offshore Guyana projects

July 29, 2022

Exxon Mobil's offshore Guyana production capacity increased to more than 340,000 boe/d with Liza Phase 2 production startup earlier this year and Liza Phase 1 producing above design capacity, according to the company's latest quarterly results.

Offshore staff

IRVING, Texas — Exxon Mobil's offshore Guyana production capacity increased to more than 340,000 boe/d with Liza Phase 2 production startup earlier this year and Liza Phase 1 producing above design capacity, according to the company's latest quarterly results statement.

In addition, the company announced two new discoveries in the area. The latest discoveries at Seabob and Kiru-Kiru are the sixth and seventh in Guyana this year, with the total number of discoveries in Guyana at more than 25.

The company also reached an agreement to supply the country of Guyana with natural gas to significantly reduce domestic energy costs and provide opportunities for industrial growth.

The company credits its offshore Guyana success to:

Two new discoveries offshore Guyana on the Stabroek Block;
Lisa Destiny and Liza Unity combined exceeded production target of 340,000 boe/d;
Prosperity expected to produce 220,000 bbl/d of oil, likely by year-end 2023, five months ahead of schedule; and
One Guyana anticipates coming online in 2025.

Liam Mallon, Exxon Mobil's Upstream Company president, commented that “ExxonMobil and its partners continue to accelerate exploration, development and production activities for the benefit of all stakeholders, including the people of Guyana. The resources we are investing in and discovering offshore Guyana will provide safe, secure energy for global markets for decades to come.”

Additionally, according to Exxon's second-quarter results report, the Coral South Floating LNG project offshore Mozambique initiated flow of gas in June, and it is on track to deliver the first LNG cargo in second-half 2022.

07.29.2022