ExxonMobil today announced that oil production has started from the Liza field offshore Guyana ahead of schedule and less than five years after the first discovery of hydrocarbons, which is well ahead of the industry average for deepwater developments.
Guyana has joined the league of petroleum producing nations with the official start of oil production at the Liza Phase 1 Development, announced on Friday December 20 by President David Granger, who proclaimed the day as ‘National Petroleum Day’.
Production from the first phase of the Liza field, located in the Stabroek Block, is expected to reach full capacity of 120,000 barrels of oil per day in coming months, and the first cargo is set to be sold within several weeks.
“This historic milestone to start oil production safely and on schedule demonstrates ExxonMobil’s commitment to quality and leadership in project execution,” said Darren Woods, chairman and chief executive officer of Exxon Mobil Corporation. “We are proud of our work with the Guyanese people and government to realize our shared long-term vision of responsible resource development that maximizes benefits for all.”
Approximately 1,700 of ExxonMobil’s employees and other workers supporting its activities in Guyana are Guyanese – more than 50 percent of the total workforce. This number will continue to grow as additional operations progress. ExxonMobil and its direct contractors have spent approximately $180 million with more than 630 local suppliers since the first discovery in 2015.
The Company outlined: Production for Liza Phase 1 to reach full capacity of 120,000 barrels of oil per day in the coming months
Liza Phase 1 is the first of multiple offshore projects planned in the Stabroek Block
More than 1,700 Guyanese have worked on ExxonMobil activities in Guyana