South America

Up to 10 FPSOs could be needed to fully develop the discovered resource base in the area.

ExxonMobil’s Kerry Moreland, a geoscientist, managed breakthrough discoveries in the early stage of her 15-year career that have positioned the company for decades to come in South America. Now she is pursuing similar goals in Africa and Asia Pacific, as she explains in a moderated interview at this week’s IPTC in Kuala Lumpur.

ExxonMobil submitted a proposal to Colombian authorities to develop a hydraulic fracturing pilot project in the Magdalena Basin. Colombia wants to drastically raise its declining reserves-to-production ratio by tapping into shale.

Take a look at these moonpool visitors.

The startup of the deepwater field marks the beginning of production from the massive Stabroek Block, which contains an estimated 6 billion BOE. ExxonMobil estimates that at least 5 FPSOs will be producing more than 750,000 BOPD from the Stabroek Block by 2025.

SBM Offshore began construction on the vessel following ExxonMobil’s sanction of the Liza Phase 2 development offshore Guyana in May. It is designed to produce 220,000 BOPD after it starts up in 2022.

2019’s class of offshore projects show a wide range of potential sanctioning outcomes.

In a talk to SPE’s Gulf Coast Section International Interest Group, Ecuador’s Minister of Hydrocarbons outlined his country’s push to attract international oil and gas investment.