Offshore Oil Development

Liza oil-field

Student name : Fadiel Baksoellah

Course : EVNR
Date : August 16 2018
 Content
 Introduction
 Liza Exploration Wells
 Liza Phase 1
 Conclusion

2
 Introduction

 The Liza field is the first oil field to be developed in

Guyana despite interest and exploration in the country
since the 1940s.
 This field is a part of the Stabroek Block spread
across an area spanning 26,800km².
 It is located nearly 190km from the shore of Guyana. 
 Liza is operated by ExxonMobil affiliate, Esso
Exploration and Production Guyana.

3
 Liza Exploration Wells
 Liza-1 well discovery was announced in May 2015
 Liza-2 well was drilled and tested in July 2016
 Liza-3 well was drilled in October 2016, confirming a world-class resource discovery in excess
of 1 billion oil-equivalent barrels
 Liza-4 well was drilled in March 2017 and encountered 197 feet of high-quality, oil-bearing
sandstone reservoirs

4
 Liza Phase 1
 Drilling 17 production wells (May 2018), laying the foundation for production startup in 2020.

5
 Liza Phase 1
 Liza Phase 1 involves the conversion of an oil tanker into a floating, production, storage and
offloading (FPSO) vessel named Liza Destiny. Construction of the FPSO and subsea equipment
is under way in more than a dozen countries. Liza Destiny will have a production capacity of
120,000 barrels of oil per day.

6
7
 Liza Phase 1
 Guyana and ExxonMobil entered into an agreement in July 2016 which will see Guyana
receiving a 50/50 profit and a 2% royalty.
 Liza Phase 1 is expected to generate over $7 billion in royalty and profit oil revenues for
Guyana over the life of the project. Additional benefits will accrue from other development
projects now being planned.
 Around 50% of the company’s employees, contractors, and subcontractors for the project are
Guyanese, with the percentage growing further as operations progress.
 ExxonMobil spent roughly $24 million with more than 300 local suppliers in 2017, and opened
the Centre for Local Business Development in Georgetown to promote the establishment and
growth of small- and medium-sized local businesses.

8
 Conclusion
 Exploration continues to yield positive results. In addition to the Liza field, ExxonMobil and its
partners have discovered other 6 oil fields in the deepwater Stabroek block offshore Guyana.
 There is already being worked on the Liza phase 2 and the development of a phase 3.

9
Thank you!

10
11