(Reuters) – Exxon Mobil Corp on Friday said it is accelerating output at its Guyana’s offshore oil development, starting a new production vessel that will bring total production capacity to more than 340,000 barrels per day.
An Exxon-led consortium started production in the South America country in 2019 and is responsible for all oil and gas output in Guyana. Exxon and partners Hess Corp (HES.N)and CNOOC Ltd. have discovered some 10 billion barrels of oil.
Production at the Liza Unity floating, production, storage and offloading (FPSO) vessel is expected to reach 220,000 barrels of oil per day later this year, Exxon said. The first production unit, Liza Destiny, is pumping 120,000 barrels per day.
“With unparalleled project execution, we now have two production facilities operating offshore Guyana,” said Liam Mallon, president of Exxon Mobil Upstream Oil and Gas.
The company raised its estimate of production capacity to 800,000 barrels per day (bpd) by year-end 2025, up from its earlier projection of 750,000 bpd by 2026.
Exxon shares were 2.3% higher at $80.04 on Friday amid a rally in crude oil prices. read more
Brazil Energy Insight 
Leave a comment