ExxonMobil remains on target to begin oil production offshore Guyana by March, 2020, following the start of development drilling for its Liza Phase 1 project.
In a statement issued yesterday, the oil major said development drilling began in May for the first of 17 wells planned for Phase 1, laying the foundation for production startup in 2020.
“The work our teams have done in Guyana is remarkable,” Liam Mallon, President of ExxonMobil Development Company was quoted as saying. “We are well on our way to producing oil less than five years after our first discovery, which is well ahead of the industry average for similar projects. The Liza development and future projects will provide significant economic benefits to Guyana.”
