1. Guyana Basin. ExxonMobil makes FID on Liza development offshore Guyana

Liza Phase 1 – V.13.06.18

1) Liza Phase 1 – Update @ June 20, 2018

The Liza Phase 1 development continues to rapidly progress, with the commencement of development drilling offshore Guyana.

Development drilling began in May for the first of 17 wells planned for Phase 1, laying the foundation for production startup in 2020.

Liza Phase 1 is expected to generate over $7 billion in royalty and profit oil revenues for Guyana over the life of the project. Additional benefits will accrue from other development projects now being planned.

Liza Phase 1 involves the conversion of an oil tanker into a floating, production, storage and offloading (FPSO) vessel named Liza Destiny, along with four undersea drill centers with 17 production wells. Construction of the FPSO and subsea equipment is under way in more than a dozen countries.

“The Longtail discovery is in close proximity to the Turbot discovery southeast of the Liza field,” said Steve Greenlee, president of ExxonMobil Exploration Company. “Longtail drilling results are under evaluation. However, the combined estimated recoverable resources of Turbot and Longtail will exceed 500 million barrels of oil equivalent, and will contribute to the evaluation of development options in this eastern portion of the block.”

The release said that ExxonMobil is currently making plans to add a second exploration vessel offshore Guyana in addition to the Stena Carron drillship, bringing its total number of drillships on the Stabroek Block to three. The new vessel will operate in parallel to the Stena Carron to explore the block’s numerous high-value prospects.

The release said that the Noble Bob Douglas is completing initial stages of development drilling for Liza Phase 1, for which ExxonMobil announced a funding decision in 2017.

Phase 1 will comprise 17 wells connected to a floating production, storage and offloading (FPSO) vessel designed to produce up to 120,000 barrels of oil per day.

First oil is expected in early 2020. Phase 2 concepts are similar to Phase 1 and involve a second FPSO with production capacity of 220,000 barrels per day. A third development, Payara, is planned to follow Liza Phase 2.

http://news.exxonmobil.com/press-release/exxonmobil-advances-liza-phase-1-development

500,000 bpd forecast based on production from Liza, Payara and Pacora.

Oil production forecast 500,000 + bbls/day.

Oil production in Guyana is expected to surpass the 500,000 barrels per day mark by the end of the next decade based on production from several offshore developments.

OilNOW recently sat down with ExxonMobil Guyana’s Senior Director, Public and Government Affairs, Kimberly Brasington for an outline of what that projection is based on, and this is what she had to say;

2) ExxonMobil makes FID on Liza development offshore Guyana
HOUSTON, June 16, 06/16/2017, By OGJ editors

ExxonMobil Corp. has made a final investment decision on the first phase of development for Liza field 190 km offshore Guyana.
The company also reported results from the Liza-4 well, which the firm said encountered more than 197 ft of high-quality, oil-bearing sandstone reservoirs and will underpin a potential Liza Phase 2 development.
Gross recoverable resources for the 6-million-acre Stabroek block are now estimated at 2-2.5 billion boe, including Liza and the Liza Deep, Payara, and Snoek exploration wells (OGJ Online, Mar. 30, 2017).
The Liza Phase 1 development includes a subsea production system and a floating production, storage, and offloading vessel designed to produce as much as 120,000 b/d of oil. The FPSO contract was let to SBM Offshore NV late last year (OGJ Online, Dec. 20, 2016).
Liza field lies in 1,500-1,900 m of water. Four drill centers are envisioned with a total of 17 wells, including 8 production wells, 6 water-injection wells, and 3 gas-injection wells.

ExxonMobil last month let an engineering, procurement, construction, and installation contract to Saipem SPA for work on risers, flow lines, and associated structures and jumpers (OGJ Online, May 10, 2017). The contract also includes transportation and installation of umbilicals, manifolds, and foundations for production as well as water and gas injection systems.
Production is expected to begin by 2020, less than 5 years after discovery of the field. Phase 1 is expected to cost just more than $4.4 billion, which includes a lease capitalization cost of $1.2 billion for the FPSO facility, and will develop 450 million bbl of oil.
ExxonMobil submitted an application for a production license and its initial development plan for Liza field in early December. The development has received regulatory approval from the government of Guyana.
Esso Exploration & Production Guyana Ltd. is operator with 45% interest. Hess Guyana Exploration Ltd. has 30% and CNOOC Nexen Petroleum Guyana Ltd. 25%. Esso E&P Guyana also operates Canje and Kaieteur blocks offshore Guyana.
Drilling of the Payara-2 well on Stabroek is expected to commence in late June and will also test a deeper prospect underlying the Payara oil discovery.

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Guyana Basin – ExxonMobil – FID – Lisa development plan

From: http://www.ogj.com/articles/2017/06/exxonmobil-makes-fid-on-liza-development-offshore-guyana.html

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