Guyana set to benefit from US$50 billion in project sanctioning spread across 10 FPSOs – Rystad Energy - Panorama Insurance Brokers

Guyana set to benefit from US$50 billion in project sanctioning spread across 10 FPSOs – Rystad Energy

US oil major ExxonMobil is projected to expend around US$50 billion in project sanctioning over the next 10 years for its offshore development activities in Guyana, according to Norway-based energy research and business intelligence company, Rystad Energy.

Of the 16 discoveries made so far at the prolific Stabroek Block, two developments have been sanctioned, namely Liza Phase 1 and 2. “So, with the fields that have not been sanctioned yet – the 14 discoveries that have not been sanctioned – these fields would require somewhere around 50 billion dollars in green-field expenditure, and that’s spending from project sanctioning to first oil,” Schreiner Parker, Rystad Energy’s Vice President for Latin America and the Caribbean, told OilNOW in a recent interview.

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