Oil and gas company ExxonMobil has increased its estimate of the discovered recoverable resources for the Stabroek Block offshore Guyana from the previous 3.2 Gboe to 4 Gboe. This increase follows the completion of the Liza-5 appraisal well plus the incorporation additional discoveries (Ranger, Longtail and Pacora). This may support the development of the third phase of the Stabroek project and two additional phases are now under consideration.
The Liza project's development drilling phase is set to start immediately and will involve the Liza Destiny floating, production, storage and offloading (FPSO), whose construction is underway. It will have a production capacity of 120,000 bbl/d and first oil is expected for early 2020. Later on, Liza Phase 2 will comprise another FPSO with a capacity of 220,000 bbl/d, expected by mid-2022. The completion of the Liza-5 appraisal well paved the way for a third FPSO with a capacity of 180,000 bbl/d for 2023. So far, the collective discoveries on the Stabroek Block have established the potential for up to five FPSOs producing over 750,000 bbl/d by 2025.
ExxonMobil is the operator is the Stabroek Block (45%) through its subsidiary Esso Exploration and Production Guyana, while the remaining stakes are held by Hess Guyana (30%) and CNOOC (25%).