ExxonMobil to put in five FPSOs in 5 years – IMF says such production ramp-up “unprecedented”

ExxonMobil has said on several occasions that by 2025, Guyana is expected to produce up to 750,000 barrels of oil per day. But it would not achieve this by solely relying on the three Floating Production Storage and Offloading (FPSO) vessels for the Liza Phase One Project, Liza Phase Two and the Payara Project (which is still awaiting government’s approval).

The International Monetary Fund (IMF) has found that ExxonMobil would be introducing two more FPSOs into the Stabroek Block, bringing the total to five. The first FPSO, Liza Destiny, is expected to be in operation this month. The second FPSO, Liza Unity, is projected for hook up by 2022. The FPSO for Payara has a 2023 deadline.
The IMF noted that a fourth FPSO would be in Guyana’s waters in 2024 with the fifth vessel hooked up in 2025.

Continue reading