Night view of Guyana. (Source: Exxon Mobil)
Exxon Mobil expects lower production in Guyana’s Stabroek Block in the third quarter as it conducts hook-up work at two offshore developments that will supply a much-needed gas-to-energy project for power use on the country’s mainland.
Exxon expects gross volumes in Guyana will decrease by approximately 13%, or 80,000 bbl/d, due to scheduled work on Liza Phase 1 and Phase 2 FPSOs to enable the necessary gas-to-energy project tie-ins, company executives said during in its Aug. 2 second-quarter webcast.
To date, Exxon’s first three Stabroek developments—Liza Phase 1, Liza Phase 2 and Payara—and their associated FPSOs are producing over 600,000 bbl/d gross.
Exxon Mobil Guyana operates Stabroek and holds a 45% interest. Its local partners include Hess Guyana Exploration (30%) and CNOOC Petroleum Guyana (25%).
RELATED
Exxon’s Guyana Gas Project a “Win-Win,” Set for Hook-up by Year-end ‘24
Gas production from Stabroek will be used to feed an onshore gas plant and allow Guyana to displace diesel fuel use in power generation, reducing emissions related to the use of the fossil fuel.
Stabroek gas will be sent onshore through a 130-mile pipeline network and associated infrastructure that will ship 50 MMcf/d of gas from the Liza Field to a 300-megawatt onshore power plant.
Exxon expects to complete pipeline construction and field hook-up by the end of 2024.
The Guyanese government will operate the plant.
Recommended Reading
If US Cancels, US Pays: Interior’s Burgum Calls for Sovereign Risk Insurance
2025-04-25 - With a sovereign risk insurance in place, a president cancelling a permit “would have to say ‘We're canceling this thing by fiat, but you get your money back that you've invested,” Interior Secretary Doug Burgum told energy industry members in Oklahoma City.
Expand’s Dell'Osso: E&Ps Show ‘Unusual’ Discipline with $4 NatGas Strip
2025-04-25 - Haynesville Shale’s largest gas producers are displaying restraint with a $4/Mcf forward curve. “That’s really unusual,” said Expand Energy CEO Nick Dell’Osso.
Amplify Energy Cancels PRB, D-J Deal on ‘Extraordinary Volatility’
2025-04-25 - Amplify Energy terminated an acquisition of oil-weighted assets in the Powder River and Denver-Julesburg basins from Juniper Capital after Amplify’s stock fell 58% since the deal was announced.
SLB Sees Short-Term Softening, Long-Term Rebound in Oil & Gas
2025-04-25 - SLB Ltd. says customers are likely to behave cautiously amid global trade concerns this year, but the future looks brighter in the long term.
Dividends Declared Week of April 21
2025-04-25 - With first-quarter 2025 earnings underway, here is a compilation of dividends declared from select upstream, midstream and service and supply companies.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.