Guyana Moves Forward With Offshore Activity, an Industrial Info Market Brief

---

Esso Exploration and Production Guyana, a joint venture between ExxonMobil Corporation, Hess Guyana Exploration Limited and CNOOC Petroleum Guyana Limited, continues with its development in Guyana's Stabroek block. As part of the Liza Field Development, the already operational FPSO Liza Destiny, with a processing capacity of 100,000 BBL/d and a storage capacity of 1,600,000 BBL, continues operating. Liza II is still under construction, with completion expected by second semester 2021.

Meanwhile, the Liza III is planned to be installed in Payara field and is awaiting authorization for expenditure (AFE) approval in early 2021. In response to market conditions brought on by the COVID-19 pandemic, Exxon has deferred a final investment decision on the Payara oil project by six to 12 months.

Last but not least, Hammerhead and Snoek fields are also planned for production, with the Liza IV and Liza V, respectively. First oil for these two FPSO vessels are expected in 2024-2025, and it is assumed they will have a similar production as Liza Destiny. Click here for a list of related projects.