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
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
CEO: Magnolia Hunting Giddings Bolt-ons that ‘Pack a Punch’ in ‘24
2024-02-16 - Magnolia Oil & Gas plans to boost production volumes in the single digits this year, with the majority of the growth coming from the Giddings Field.
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.