Management Address Oct 2019

October 2019

The third quarter of this year has included a number of major accomplishments for ExxonMobil’s Guyana venture. One of the most visible milestones was the arrival of the Liza Destiny FPSO to its new home offshore Guyana on August 29, after a 42-day journey from Singapore. Hookup and installation activities for Guyana’s first oil production vessel have begun, and all parties are focused as One Team to reach first oil by 2020.

In news from the overall Guyana portfolio perspective, ExxonMobil announced a new offshore oil discovery at the Tripletail-1 well in the Turbot area in September. This brings the total number of discoveries on the Stabroek Block offshore Guyana to 14 and adds to the previously announced estimated recoverable resource of more than six billion oil-equivalent barrels there.

As offshore activities continue to ramp up with the arrival of the Liza Destiny, we’re pleased to say that collaboration and a spirit of One Team continue among all the parties involved, despite the challenges of simultaneous operations (SIMOPS). The Offshore Coordination Team is fully operational and aligned on priorities and potential conflict mitigations.

For Liza Phase 2, we’re continuing to see the benefits from transferring lessons learned on the Liza Phase 1 project. For example, the practical knowledge being gained during the current and completed Phase 1 offshore installation activities is now being incorporated into the installation design for Phase 2.

The project’s accelerated schedule is only possible because of this type of near-real time knowledge sharing. The Liza Phase 2 leadership team talks about the scope of the project and the execution approach being taken in this video.

This quarter, we have our first update on the Payara project. Engineering and critical path activities are quickly progressing, again due to the experience gained on the previous Guyana projects.

Other articles in this edition of the newsletter highlight many of the activities that support our One Team and Nobody Gets Hurt visions. As always, we want to thank everyone for keeping these goals top of mind, even as activities ramp up. No project can be a success without teamwork and safety, so your efforts in these areas are a vital component of your work each and every day. We look forward to everyone’s continued, shared success as we guide Guyana into the international oil and gas industry.