ExxonMobil awards key contracts for Liza oil development, production

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oilUnited States (US) oil and Gas Exploration company ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), on Tuesday announced that it has awarded contracts to SBM Offshore for a floating production, storage and offloading (FPSO) vessel, a key step in moving the Liza field toward first production.

“Liza development activities are steadily progressing, and we’re excited to reach this important milestone.”

Under the contracts, SBM Offshore will perform front end engineering and design for the FPSO and subject to a final investment decision on the project in 2017, will construct, install and operate the vessel.

“Liza development activities are steadily progressing, and we’re excited to reach this important milestone. “We look forward to working with the Government of Guyana to develop its valuable resources, which have the potential to provide long-term, sustainable benefits to the country,” Neil Duffin, President of ExxonMobil Development Company, said in a statement on Tuesday.

ExxonMobil submitted an application for a production licence and its initial development plan for the Liza field in early December. The development plan, submitted to the Natural Resources Ministry, includes development drilling, operation of the FPSO, and subsea, umbilical, riser and flowline systems.

The Liza field has a potential recoverable resource estimate in excess of one billion oil-equivalent barrels and is located in the Stabroek block approximately 120 miles (193 kilometres) offshore Guyana.

The Stabroek block currently comprises 6.6 million acres (26,800 square kilometres). Esso Exploration and Production Guyana Limited is the operator and holds a 45 per cent interest in the Stabroek block. Hess Guyana Exploration Ltd holds a 30 per cent interest, and CNOOC Nexen Petroleum Guyana Limited holds a 25 per cent interest. (Guyana Times)

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