The Liza Phase 1 offshore project—Guyana’s first oil-producing project led by ExxonMobil— has reached its full planned production capacity of some 130,000 barrels per day (bpd), Guyana’s President Irfaan Ali said on an online energy event this week. This year alone, operators are expected to drill as much as 10 appraisal and exploration wells offshore Guyana, Ali said on the Guyana Basin Summit event, as carried by Reuters. The Liza Phase 2 Project is designed to pump up to 220,000 bpd with a floating, production, storage, and offloading vessel (FPSO), with start-up expected in the middle of next year, Exxon says. Guyana is one of the top priorities in the U.S. supermajor’s strategy to focus on high-return and cash-generating projects that would allow it to grow its dividend through 2025. “90 percent of our upstream investments in resource additions, including in Guyana, Brazil and the U.S. Permian Basin, generate […]