ExxonMobil has made a final investment decision (FID) for the second development phase of the Liza field on the Stabroek Block offshore Guyana. Expected to start up in mid-2022, Liza Phase 2 will produce up to 220,000 B/D of oil.
The major is proceeding with the project after receiving government and regulatory approvals. As with Liza Phase 1, the second phase will utilize a floating production, storage, and offloading (FPSO) vessel, which will be named Liza Unity.
Six drill centers are planned with a total of 30 wells, including 15 production wells, nine water injection wells, and six gas injection wells. The project is expected to cost $6 billion, including $1.6 billion for the FPSO, and will develop 600 million bbl of oil.
By 2025, ExxonMobil plans to produce at least 750,000 B/D of oil from the Stabroek Block through at least five FPSOs. Liza Phase 1, slated to begin production by the end of first-quarter 2020, will produce up to 120,000 B/D of oil at peak via the Liza Destiny FPSO, which is expected to arrive offshore Guyana in the third quarter of this year. The Noble Bob Douglas drillship is completing first-phase development drilling.
FID is expected later this year for a third phase of development, Payara, which is expected to produce 180,000–220,000 B/D, with startup expected as early as 2023. ExxonMobil is evaluating additional development potential in other areas of Stabroek, including the Turbot area and Hammerhead. The major in April reported its fifth discovery in the Turbot area and 13th overall on the block: Yellowtail.
Following well completion activities at the Yellowtail discovery, the Noble Tom Madden drillship will move to the Hammerhead-2 well. The Stena Carron drillship is completing a well test at the Longtail-1 discovery and will next drill the Hammerhead-3 well.
Later this year, the Stena Carron will drill a second well at the Ranger discovery. ExxonMobil will add another exploration drillship, the Noble Don Taylor, in the fourth quarter, bringing the number of drillships deployed off Guyana to four.
Current discovered recoverable resources from the 26,8000-sq-km Stabroek Block are estimated at more than 5.5 billion BOE. Operator ExxonMobil holds a 45% interest in the block. Partners Hess and CNOOC own 30% and 25%, respectively.