Backgroud

The Stabroek Block, located approximately 120 miles offshore Guyana, is 6.6 million acres (26,800 square kilometers). Esso Exploration and Production Guyana Ltd (Guyana) (EEPGL) is the operator and has a 45 percent working interest, while Hess Guyana Exploration Ltd has 30 percent interest and CNOOC Nexen Petroleum Guyana Ltd. has 25 percent interest.
To date, eight significant discoveries have been made on the block at Liza, Payara, Snoek, Liza Deep, Turbot, Ranger, Pacora and Longtail. The block is estimated to more than 4 billion recoverable oil-equivalent barrels. 
Development drilling at the Liza Phase 1 development, sanctioned June 2017, is underway, laying the foundation for first production in early 2020. The second phase of the Liza development will utilize a second FPSO with gross production capacity of approximately 220,000 barrels of oil per day, with start-up expected by mid 2022. Planning is underway for a third phase of development, which is targeted to be sanctioned in 2019 and will use an FPSO designed to produce approximately 180,000 bopd gross, with the first production in 2023.

Brief Introduction

Location of oil field: 120 miles offshore Guyana
Distribution and area of oil field: 26,800 sq km
Reservoir information: sandstone reservoir
Oil field reserves: more than 4 billion recoverable oil-equivalent barrels
Estimate production of oil field:
Liza phase 1 project: 120,000 bpd (2020)
Liza phase 2 project: 220,000 bpd (2022)
Liza phase 3 project: 180,000 bpd (2023)

Exploration and development history:
2015.5- Liza-1 well discovery was announced.
2016.11- Liza-3 well was drilled, confirming a world-class resource discovery.
Appraisal drilling at Liza 3 identified an additional high quality deeper reservoir directly below the Liza field.
2017.1-Oil discovered at Payara, estimating approximately 500 million oil-equivalent barrels.
2017.3-Oil discovered at Snoek, the third oil discovery on the Stabroek Block.
2017.6-Development of the first phase of oil production at the Liza.
2017.10-Oil discovered at Turbot, the fifth oil discovery on the Stabroek Block.
2018.1-Oil discovered at Ranger, the sixth oil discovery on the Stabroek Block.
2018.2-Oil discovered at Pacora, the seventh oil discovery on the Stabroek Block.
2018.4-Oil discovered at Longtail, the eighth oil discovery on the Stabroek Block.
2018.4- Development of the second phase of oil production at the Liza.

Current rights and interests
Esso Exploration and Production Guyana Ltd (Guyana): Operator with 45% interest
Hess Guyana Exploration Limited (Guyana): 30% interest
CNOOC Nexen Petroleum Guyana Limited (Guyana): 25% interest

Expected workload

Liza Phase 1 project:
Drilling plan: Four drill centers are envisioned with eight production wells, six water injection wells, three gas injection wells.
Installation: Subsea, Umbilical, Risers and Flowlines (SURF) Installation; Floating Production Storage and Offloading (FPSO) Installation.
Production operations: FPSO capable of producing 120,000 barrels of oil per day; FPSO has 60-80 personnel for routine operations; Tug assisted offloading to conventional tanker approximately every 5-10 days at peak production.

Liza Phase 2 project:
Drilling plan: Two drill centers are envisioned with 35-40 wells.
Environmental authorization: EEPGL submitted an application to the Environmental Protection Agency (EPA).
Potential production concept: One FPSO; Subsea equipment, Umbilical, Risers and Flowlines; FPSO capable of producing 190,000 to 220,000 barrels of oil per day.

Liza Phase 3 project:
Planning is underway, which is targeted to be sanctioned in 2019 and will use an FPSO designed to produce approximately 180,000 bopd gross, with the first production in 2023. 

Special needs of oil fields
Logistics support: Logistics support for 1 FPSO and 1 to 2 drilling vessels; Use of shorebase, warehouses, pipeyards and waste facilities; Marine support vessels; Aviation support.

Company behavior
SBM Offshore (Brazil): Hired to supply an FPSO unit and carry out front end engineering and design for the FPSO.
TechnipFMC(United States of America): Engineering, manufacture, and delivery of subsea equipment.
Saipem (Peru): EPCI contract for the SURF package of the Liza project.
Keppel Shipyard(Singapore): FPSO conversion contract.
Guyana Shore base Inc (Guyana): Shore base services for the Liza Phase 1 development contract.
Noble Corporation plc (United Kingdom): Drilling services contract for Liza Phase 1 development wells in first half of 2018 .