Green Car Congress

DECEMBER 22, 2019

ExxonMobil has started oil production from the Liza field offshore Guyana ahead of schedule and less than five years after the first discovery of hydrocarbons, which is well ahead of the industry average for deepwater developments. Esso Exploration and Production Guyana Limited is operator and holds 45% interest.

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Guyana Oil Production 2015 221

Green Car Congress

SEPTEMBER 13, 2021

ExxonMobil has made a discovery at Pinktail in the Stabroek Block offshore Guyana. Separately, the Liza Unity floating production storage and offloading (FPSO) vessel set sail from Singapore to Guyana in early September. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.

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Guyana Oil Singapore Water 186

Green Car Congress

APRIL 28, 2022

ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels. The three discoveries are southeast of the Liza and Payara developments and bring to five the discoveries made by ExxonMobil in Guyana in 2022.

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Guyana Water Oil Affordable 195

Green Car Congress

FEBRUARY 12, 2022

Liza Unity on her way to Guyana. The Liza Unity arrived in Guyana in October 2021. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.

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Guyana Production Oil Store 259

Green Car Congress

OCTOBER 8, 2021

ExxonMobil increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana ( earlier post ) to approximately 10 billion oil-equivalent barrels. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest in the Stabroek Block. Hess Guyana Exploration Ltd.

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Guyana Oil 2015 Water 243

Green Car Congress

FEBRUARY 9, 2018

Other significant new proved reserve additions were made in Guyana, where the company funded the first phase of development last year, and in Mozambique, associated with the project funding of the Coral FLNG project in the gas-rich deepwater Area 4. Additional exploration drilling in Guyana is planned in 2018 on the 11.5

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2017 Papua New Guinea Oil Guyana 186

Green Car Congress

MARCH 17, 2020

ExxonMobil is looking to reduce spending significantly as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases. Woods said that ExxonMobil has faced numerous market downturns throughout its long history and has experience operating in a sustained low-price environment.

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Papua New Guinea Guyana Guinea Mozambique 186

Green Car Congress

AUGUST 9, 2023

Non-OPEC production growth in the forecast is led by the United States, Brazil, Canada, Guyana, and Norway. In 2024, global production increases by 1.7 million b/d, with 1.2 million b/d coming from non-OPEC countries. EIA forecasts US regular gasoline prices will average about $3.63 per gallon.

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Oil Oil Prices Global Price 370

Green Car Congress

JANUARY 11, 2023

EIA also expects oil production in Canada, Brazil, and Norway collectively to grow 12% from 2022 to 2024, and also expects growth from new sources such as Guyana. Areas of uncertainty include Russian oil supply and OPEC production.

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Oil Prices Oil Global Price 210

Green Car Congress

JUNE 18, 2022

The remaining key sources of forecast non-OPEC production growth come from Norway, Argentina, Kazakhstan, Oman, and Guyana. US refinery utilization averages 94% in 3Q22 in the forecast, as a result of high wholesale product margins.

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