ExxonMobil celebrates five years of oil production in Guyana

Last Updated on Thursday, 19 December 2024, 10:25 by Denis Chabrol

The fuel hose leading from the FPSO, Liza Destiny, to the Cap Philippe for the transfer of Guyana’s first million barrels of crude. (File picture)

ExxonMobil Guyana is Thursday marking five years of oil production in Guyana on December 19, a significant achievement that underscores the transformative potential of the country’s growing energy sector.

Since “first oil” at the offshore Liza Phase 1 project five years ago, the company said Guyana has become the third largest per-capita oil producer in the world. The oil-and-gas sector has spurred tremendous economic growth in Guyana, helping to elevate the country to one of the fastest-growing economies globally.

ExxonMobil Guyana says it is dedicated to enhancing local capacity, and Guyanese businesses and workers play critical roles in its operations. More than 6,000 Guyanese are currently employed in good-paying industry jobs, and ExxonMobil Guyana and its suppliers have invested more than GY $2 billion to procure goods and services from more than 1,700 local Guyanese businesses.

ExxonMobil Guyana describes its deepwater developments as “the most successful in the world.” In five years, the company has started up three complex offshore mega-projects on schedule and on budget, while simultaneously advancing plans for five additional projects by the end of the decade.

ExxonMobil says production capacity in Guyana is expected to surpass 1.7 million barrels per day, with gross production growing to 1.3 million barrels per day, by 2030.

“Working alongside our co-venturers and the Government, we are doing our part to foster a brighter future for all Guyanese,” said Routledge in a company statement. “ExxonMobil Guyana proudly celebrates this five-year milestone as a shared achievement, and we look forward to continuing our successful collaboration with the people of Guyana.”