Final investment decision made by ExxonMobil for Liza field offshore Guyana
19 June, 2017
US oil major ExxonMobil has announced that it will spend US$4.4bn (£3.4bn) to develop part of the Liza oil field offshore Guyana with its partners Hess Corp and CNOOC.
Phase 1 of the Liza development will include a subsea production system and a floating production, storage and offloading vessel to produce up to 120,000 barrels of oil per day.
Total recoverable resources for the Starbroek block, offshore Guyana, which includes the Liza, Payara and Snoek fields, are now thought to be up to 2.5bn barrels of oil equivalent.
Exxon plans 17 wells as part of the first phase, with more possible in a second phase in the future.
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