American multinational, ExxonMobil announced this morning that its development plans for the Liza Phase Two project in the Stabroek Block is progressing well. The company noted that Phase Two which is expected to startup in 2022 will produce up to 220,000 barrels per day.
It disclosed as well that construction activities are underway in Singapore on the Liza Unity FPSO while noting that a third production vessel for the Payara development, with production capacity of 220,000 barrels a day, is on hold pending government approval.
The Stabroek Block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest.