Drilling has begun at the Liza Phase 1 development offshore Guyana, Exxon Mobil Corp. said in a June 12 news release.
Thus far, Exxon and its partners have discovered estimated recoverable resources of more than 3.2 billion barrels of oil equivalent on the Stabroek Block at Liza Phase 1. Drilling began in May for the first of 17 wells planned for Phase 1, with production expected to start in 2020.
Liza Phase 1 involves the conversion of an oil tanker into a floating, production, storage and offloading, or FPSO, vessel named Liza Destiny, along with four undersea drill centers.
Liza Destiny will have a production capacity of 120,000 bbl/d. A second FPSO with a capacity of 220,000 bbl/d is being planned as part of the Liza Phase 2 and a third is under consideration for the Payara development. The three developments are expected to produce more than 500,000 bbl/d.
With a 45% stake, Esso Exploration and Production Guyana Ltd. is operator. Hess Guyana Exploration (Liza) Ltd. holds a 30% interest while CNOOC Nexen Petroleum Guyana Ltd. has a 25% stake.
