Latest update April 25th, 2024 12:59 AM
May 07, 2020 News
Since coming on stream on December 20, 2019, the Liza Phase One project in the Stabroek Block has produced over eight million barrels of oil with an average daily production of 75,000 to 80, 000 barrels of oil per day. Informing the media of this recently was Energy Department Head, Dr. Mark Bynoe.
During a press briefing on Monday, Dr. Bynoe said that the Liza Phase One project is expected to ramp up to full capacity by early June. By that time, it would be producing 120, 000 barrels of oil per day.
Turning his attention to a wider challenge in the global oil industry, Dr. Bynoe alluded to the fact that the depressed demand for oil has forced many producing countries to close off producing wells. But the same cannot be done for Guyana, expressed the Director. The official said he had several discussions with industry experts and the general impression is that Guyana should continue producing and do nothing that could jeopardize the operational integrity of the Liza well. The Director said that shutting down the well can prove costly and detrimental to any production from that reservoir.
The Liza Phase One Project is expected to last for 20 years. At the end of the approximately 20 year life of project, ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) would develop a plan to decommission the offshore production facilities. The plan would have to be approved by the government.
Jagdeo giving Exxon 102 cent to collect 2 cent.
Apr 25, 2024
By Rawle Toney Kaieteur Sports – The French Diplomatic Office in Guyana, in collaboration with the Guyana Olympic Association and UNICEF, hosted an exhibition on Tuesday evening at the...Kaieteur News – Dr. Bharrat Jagdeo, the General Secretary of the People’s Progressive Party, persists in offering... more
By Sir Ronald Sanders Waterfalls Magazine – On April 10, the Permanent Council of the Organization of American States... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.
Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]