ExxonMobil announced it has made a new oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well in the Turbot area. It adds to the previously announced recoverable resource base of more than 6 Gboe. The Stabroek block is operated by ExxonMobil's affiliate Esso Exploration and Production Guyana with a 45% stake. The remainder is held by Hess Guyana Exploration (30%) and CNOOC (25%).
On the same Stabroek Block offshore Guyana, the Liza Phase 1 development is planned to begin early 2020 and would produce up to 120,000 bbl/d utilizing the Liza Destiny floating production storage and offloading (FPSO), which arrived in the country on August 2019.
The American major approved funding for the Liza Phase 2 development after it received government and regulatory approvals in May 2019. Expected to start up by mid-2022, the project plans to use the Liza Unity FPSO to produce up to 220,000 bbl/d. Pending government approvals, a third development, Payara start-up could be as early as 2023 and production would reach an estimated 220,000 bbl/d.