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ExxonMobil to proceed with Liza Phase 2 development offshore Guyana

Exxonmobil announced it has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals. Liza Phase 2 will produce up to 220,000 bbl/day and further capitalize on the significant development potential of the Stabroek Block, where ExxonMobil estimates producing more than 750,000 bbl/day by 2025. A total of six drill centers are planned as well as approximately 30 wells, including 15 production, nine water injection and six gas injection wells. Phase 2 startup is expected in mid-2022 and will develop approximately 600 million bbl. Liza Phase 2 is expected to cost $6 billion, including a lease capitalization cost of approximately $1.6 billion, for the Liza Unity floating production, storage and offloading (FPSO) vessel. “With the government ...

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