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  7. Exxon gets production licence in Guyana

Exxon gets production licence in Guyana

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16 Jun 2017 09:17 #344238 by chairman
Production is expected to begin in 2020. Following the approval of the Production Licence and environmental permit, it is expected that ExxonMobil and co-venturers Nexen and Hess will make a final investment decision on the Liza Phase 1 development. In a separate process, the Guyana Environmental Protection Agency issued the Liza field environmental permit on June 1. The environmental permit ensures that the environment is protected through the lifecycle of the project. The Liza Phase 1 development plan includes completion of a floating production, storage and offloading (FPSO) vessel designed to produce up to 120,000 barrels of oil per day.
Meanwhile, Minister of Natural Resources, Raphael Trotman said approximately two billion barrels of oil have been discovered in the Stabroek Block by ExxonMobil and its partners. Trotman made the announcement on Thursday during deliberations on the Petroleum Commission of Guyana Bill 2017.
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16 Jun 2017 11:13 #344246 by ketchim
Good stuff ....who relocating b4 2020 ? 

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16 Jun 2017 13:25 #344258 by Observer
This should be good news for Guyana, providing that the environmental regulations are strictly adhered to.This will serve to boost the country's revenues and and could also help to boost production because of resulting lower energy cost. I hope the oil production will serve the Guyanese people well.

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16 Jun 2017 13:28 #344259 by The Captain
will help to boost the crooks in govt pockets

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17 Jun 2017 05:53 #344277 by chairman
Let's hope the money is used to upgrade the infrastructure
Always tell someone how you feel because opportunities are lost in the blink of an eye but regret can last a lifetime.
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17 Jun 2017 13:12 #344289 by ketchim
wishful thinking, Chairman !

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