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“We’ve made a number of discoveries. We’ve got
four projects fully in the works. We’re working
on additional projects,” he stated. “So how to
maximise the value of those to the government
and our shareholders – that’s what we’re after.”
ExxonMobil’s approach to optimising value
involves targeting the large new oilfields that
have been discovered at Stabroek and extend-
ing current development, he said. He did not
say whether the firm had selected any specific
targets for future development beyond the fields
that had already been chosen.
At least three of the first five development
projects at Stabroek will involve the use of tie-
backs. Liza-1 and Liza-2, the first two sections
of the block to start production, were brought
online in isolation. But Payara, the third, will be
linked to the nearby Pacora field via tie-backs,
and Yellowtail, the fourth, will have a tie-back
connection to the Redtail field. Meanwhile, the
fifth project – Uaru, which is still awaiting for-
mal approval – is expected to be linked to the
Mako field via tie-backs.
Tie-backs can be a cost-effective method of
development under the right circumstances, as
they are considerably less costly than the floating
production, storage and off-loading (FPSO) ves-
sels that ExxonMobil Guyana is using to extract
oil from its other targets at Stabroek. However,
FPSOs may be optimal for some large fields.
Indeed, the Norwegian energy consultancy Rys- The Payara, Yellowtail and Uaru projects will likely involve tie-backs (Image: Hess)
tad Energy said in an industry benchmarking
update in July of this year that it expected the with 30%; and state-run China National Off-
US company to install vessels of this type at five shore Oil Corp. (CNOOC), with 25%.
more fields. It named the Hammerhead, Long- The US super-major and its partners have
tail, Ranger, Snoek and Tripletail fields as the already made more than 25 commercial dis-
most likely candidates. coveries at Stabroek since they first struck oil at
Stabroek, located offshore Guyana, contains Liza in 2015. The group launched production
more than 11bn barrels of oil equivalent (boe) in at Liza-1 in December 2019 and then brought
recoverable resources. It is being developed by a Liza-2 on stream in February 2022. Payara will
consortium that includes ExxonMobil, the oper- follow suit in late 2023 and Yellowtail in 2025.
ator, with 45%; Hess, a US-based independent, Uaru may begin production in late 2026. ™

Guyana’s EPA decides ExxonMobil must

perform EIAs for Canje, Kaieteur blocks

GUYANA’S Environmental Protection Agency collected during similar assessments of Canje.
(EPA) has decided to require ExxonMobil (US) Nevertheless, the agency’s Environmen-
to conduct environmental impact assessments tal Assessment Board (EAB) has now taken a
(EIAs) before proceeding with new drilling slightly different position. In a notice published
programmes at the Canje and Kaieteur offshore on August 11, it said it still believed the past
blocks, reversing its earlier stance. reviews were sufficient.
The EPA had previously ruled that the US “Considering the contiguous nature of
super-major did not have to carry out an EIA Stabroek, Canje and Kaieteur Blocks, the EAB
at either block. It said it had based that decision agrees with the EPA that sufficient data exists to
on a careful review of existing baseline informa- conclude that any negative impact of the pro-
tion on Kaieteur collected during two separate posed individual projects would be primarily
assessments in 2019 and 2020, along with data local and short-term,” it wrote.

Week 33 17•August•2022 www. NEWSBASE .com P9