ExxonMobil, Hess sanction Liza Phase 2 development

Partners in the Liza Phase 2 Development Offshore Guyana – ExxonMobil and Hess – have made a final investment decision to proceed with the second phase of development of the Liza Field on the Stabroek Block, offshore Guyana following regulatory approvals.

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

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