ExxonMobil drilling heralds oil era in Guyana
Keen to add to its production base, ExxonMobil hopes to have the oil flowing from offshore Guyana within two years
It's not yet certain whether the tiny Caribbean state of Guyana is in good shape to handle the revolutionary economic and social impact of a multi-billion-dollar oil industry, but we are about to find out. ExxonMobil has announced that drilling started in May on the first development well for the Liza Phase 1 offshore project—the first of 17 production wells planned for this phase. That programme is expected to result in the start of production in 2020 via a floating production, storage and offloading vessel (FPSO) called Liza Destiny. The FPSO, now being converted from an oil tanker, is expected to have a capacity of 120,000 barrels a day (b/d) of oil. Another FPSO with a capacity of 220,00
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
