Guyana set to become a major Oil and Gas producer
Since 2015 several offshore discoveries have ocurred in Guyana’s deep waters. Since the first Stabroek Discovery, a further 16 new ones have been announced, generating development projects of eight billion barrels of oil. Exxon together with Hess and CNOOC, began production from the Stabroek field in December 2019 via the Liza Destiny FPSO, with a capacitiy of 120 mill barrels/day.
Another floatig unit is being planned, with a capacity of 220,000 barrels/day and a third is considered. In all, 500,000 barrels per day could be produced in the next decade, the equivalent of Ecuador’s national production.
Guyana is expected to account for about 8% of Exxon world production by the end of this decade. Assuming a strategic position in the company’s investment portfólio. As an example, the oil company has announced an investment of US$200 billion in oil and gas projects around the world over the next seven years. There is also the possibility that they will launch new development project in the Stabroek block, currently forecasting production at the site of more than 750,000 barrels per day by 2025.
Exploratory activities also reach Surinam (The Spanish Repsol and Chevron, as well Japan’s Inpex). In French Guyana there are Total and Shell.
- Supply of drilling and seismological equipment.
- Training on extractive industry topics for GOG employees.
- Oil exploration.