ExxonMobil Kicks Off Liza Phase 1 Oil Production in Guyana

By John Heerdink LinkedIn Disclaimer

Exxon Mobil (XOM) Corporation is a global oil and natural gas company.  Founded in 1870 and headquartered in Irving Texas, Exxon Mobil explores for and produces crude oil and natural gas, manufacture and markets commodity petrochemicals, and transports and sells crude oil, natural gas, and petroleum.

As per reports, ExxonMobil has started off production with its Liza field offshore Guyana ahead of schedule. Production from the phase one of the Liza field, located in the Stabroek Block is expected to reach full capacity of 120k barrels of oil/day in coming months and is the first of multiple offshore projects planned in the Stabroek Block.

Darren Woods, chairman, and chief executive officer of Exxon Mobil Corporation stated, “This historic milestone to start oil production safely and on schedule demonstrates ExxonMobil’s commitment to quality and leadership in project execution,”, “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.”

Activities in Guyana are supported by 1700 workers, out of which more than 50 percent are Guyanese, this number is expected to grow as production increases. A second FPSO, Liza Unity, is under construction for Liza Phase 2 development with a capacity to produce up to 220,000 barrels of oil per day. ExxonMobil expects that by 2025 at least five FPSOs will be producing more than 750,000 barrels per day from the Stabroek Block.

To learn more about ExxonMobil Corporation (XOM) and to continue to track its progress please visit the Vista Partners ExxonMobil Corp. Page.

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(Read Original Story: ExxonMobil Begins Oil Production in Guyana in Business Wire)


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