ExxonMobil to proceed with Liza Phase 2 development offshore Guyana

ExxonMobil has funded the Liza Phase 2 development offshore Guyana after the company received government and regulatory approvals.

Liza Phase 2 will produce up to 220,000 barrels of oil per day and further capitalise on the development potential of the Stabroek block, where ExxonMobil estimates producing more than 750,000 barrels of oil per day by 2025.

A total of six drill centres are planned as well as approximately 30 wells, including 15 production, nine water injection, and six gas injection wells.

Phase 2 startup is expected in mid-2022 and is expected to develop approximately 600 million barrels of oil.

Liza Phase 2 is expected to cost US$6 billion, including a lease capitalisation cost of approximately US$1.6 billion for the Liza Unity FPSO (pictured).