The Ministry of Natural Resources today approved the ExxonMobil Liza Phase 1 development plan and issued a production licence for the Liza field, a release from the Ministry said this evening. It noted that this is an important milestone towards the first phase of oil production at the Liza field offshore Guyana. Production is expected to begin in 2020.
It said that 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, it noted that 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 life cycle of the project”, the release said.
The Liza Phase 1 development plan includes completion of a floating production, storage and offloading vessel designed to produce up to 120,000 barrels of oil per day.