Hess on Guyana: First Liza FPSO almost complete. Two more FIDs expected in 2019

As the first FPSO destined for the development of Guyana’s recently discovered oil riches is expected to set sail from Singapore, Exxon is preparing to sanction two more developments this year.

Hess, Exxon’s partner in the vast Stabroek block off Guyana, said on Thursday that installation of topside modules on the Liza Destiny FPSO was complete, and commissioning activities were underway.

The Liza Destiny FPSO will be the first FPSO in the Stabroek block where Exxon has made 13 oil discoveries since 2015. The FPSO, set for to sail away soon, is slated to arrive in Guyana in the third quarter of 2019. It is expected to start producing up to 120,000 gross bopd by the first quarter of 2020. The first phase is expected to develop around 500 million barrels of oil.

As for the second Phase of the Liza Development, Hess said a final investment decision is expected soon, subject to government and regulatory approvals. The second FPSO, expected to be supplied by SBM Offshore, will have the capacity to produce up to 220,000 gross bopd and is expected to begin producing by mid-2022.

At least five FPSOs

Hess said that a third development, Payara, was expected to be sanctioned late in 2019 with the first production expected in 2023. The Payara development is expected to have the capacity to produce between 180,000 and 220,000 gross bopd from a third FPSO.

It has previously been said that the Stabroek block could need “up to five FPSOs” to develop the discoveries made. However, with what seems to be a neverending string of discoveries in the block, with Exxon last week announcing its 13th find, Hess now says there could be “at least five,” FPSOs needed.

In a conference call on Thursday, John Hess, CEO of Hess Corp, said: “We have now made 13 significant discoveries on the block since 2015, which will underpin at least five floating production storage and offloading vessels to produce more than 750,000 gross barrels of oil per day by 2025. Gross discovered recoverable resources on the block are estimated to be more than 5.5 billion barrels of oil equivalent with multibillion barrels of future exploration potential remaining.”

ExxonMobil subsidiary Esso Exploration and Production Guyana Limited is the operator of the Stabroek block and holds 45 percent interest. Hess Guyana Exploration Ltd. holds 30 percent interest, and CNOOC Nexen Petroleum Guyana Limited holds the remaining 25 percent interest.

Offshore Energy Today Staff


Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.

Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns. 

If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options.

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply