The Liza-1 well in the Stabroek Block offshore Guyana is pumping oil at a rate of 120,000 barrels per day, Exxon has announced, in a belated achievement of its target for the well. Argus quoted Exxon Guyana president Alistair Routledge as saying, “We are disappointed by the number of equipment issues experienced and that, because of these issues and Covid-19, commissioning of the gas injection system took longer than originally projected.” It added the 120,000-bpd milestone was supposed to be reached a year ago. Exxon, together with its partner in the Stabroek Block, Hess Corp, has made 18 discoveries there in less than five years, with a combined potential for producing up to 750,000 bpd of crude. Liza Phase 1, the first discovery, is already producing, and Liza Phase 2 should start producing in 2022, Exxon said, at a rate of 220,000 bpd. The company also recently made the […]