US-based company to get first oil from Guyana in December

The US-based Hess Corporation said it is now targeting December for first oil from the Liza-1 development in Guyana.

Oil production was initially set to begin in the first quarter of 2020, but according to the Hess Corporation chief executive officer, John Hess, “in September, we announced our 14th discovery in the Stabroek Block at Tripletail, offshore Guyana and are now targeting December for first oil from the Liza-1 development.”

“We are now targeting December for first oil from the Liza-1 development.”

— John Hess, CEO of Hess Corporation

The Stabroek Block is operated by ExxonMobil with a 45 per cent interest while Hess and CNOOC Petroleum have 30 per cent and 25 per cent interest, respectively.

Hess said the Liza Phase 1 development is now targeted to commence production in December and will produce up to 120,000 gross barrels of oil per day (bopd) utilising the Liza Destiny FPSO, which arrived in Guyana on August 29.

The Liza Phase 2 development was sanctioned in May 2019 and will use the Liza Unity FPSO to produce up to 220,000 gross bopd with first oil expected by mid-2022.

“Pending government approvals, a third development, Payara, is expected to produce up to 220,000 bopd with start-up in 2023,” the company said.