Exxon Mobil Corp.’s gas-to-power project in Guyana is a “win-win proposition particularly for the people of Guyana,” the Texas-based company’s CEO Darren Woods said during the first quarter 2024 webcast with analysts.
Exxon continues to look for opportunities to assist communities in countries on a development path, Woods said Apr. 26, citing Guyana as a good example of that strategy.
Guyana’s offshore gas production from the prolific Stabroek Block will be used to feed an onshore gas plant and allow the country to displace diesel fuel use in power generation, reducing emissions related to the use of the fossil fuel.
Construction continues on a 130-mile pipeline network and associated infrastructure that will ship 50 MMcf/d of gas from the Liza Field to a 300-megawatt onshore power plant. The plant is expected to be constructed and operated by the Guyanese government, according to Hess.
Exxon Mobil Guyana Ltd. expects to complete pipeline construction and field hook-up by the end of 2024.
The project will allow Guyana “to replace a relatively inefficient high emissions power generation system that-s fairly unreliable with something that-s cleaner, lower emissions and much more reliable, and should be much more cost effective,” Woods said.
RELATED
Exxon Ups Mammoth Offshore Guyana Production by Another 100,000 bbl/d
Recommended Reading
After 4Q Struggles, Transocean’s Upcycle Prediction Looks to Pay Off
2024-02-21 - As Transocean executives predicted during third-quarter earnings, the company is in the middle of an upcycle, with day rates and revenues reaching new heights.
Stena Evolution Upgrade Planned for Sparta Ops
2024-03-27 - The seventh-gen drillship will be upgraded with a 20,000-psi equipment package starting in 2026.
Shell Taps TechnipFMC for 20K System for Sparta
2024-02-19 - The deepwater greenfield project in the Gulf of Mexico targets reserves in the high-pressure Paleogene reservoir.
Chevron, Total’s Anchor Up and (Almost) Running
2024-05-07 - During the Offshore Technology Conference 2024, project managers for Chevron’s Anchor Deepwater Project discussed the progress the project has made on its journey to reach first oil by mid-2024.
US Drillers Cut Most Oil Rigs in a Week Since November
2024-04-26 - The number of oil rigs fell by five to 506 this week, while gas rigs fell by one to 105, their lowest since December 2021.