Exxon claims it has cut Guyana crude output because of to gasoline compressor failure

Margie D. Moore

FILE Photograph: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Fuel Expo and Meeting in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

GEORGETOWN (Reuters) – Exxon Mobil Corp stated on Friday it had reduced crude output stages at the Liza Future floating platform off Guyana’s coastline just after a fuel compressor unsuccessful.

The business, which owns a 45% stake in the Stabroek block where by Liza is located, did not specify present-day creation ranges. Hess Corp, one particular of Exxon’s partners in the block with a 30% stake, explained in an earnings contact very last week that generation experienced achieved full potential of 120,000 barrels for each working day (bpd).

Exxon claimed it would send the compressor to Germany for repairs, wherever it was set to get there on Feb. 9.

“The comprehensive extent of the hurt will not be acknowledged till a in-depth inspection of the compressor can just take area at the workshop of the maker, Gentleman Turbo in Germany,” the company reported in a statement.

Exxon, which operates the Stabroek block, had very last calendar year limited output because of to difficulties with the reinjection of pure fuel. Guyanese authorities have said they anticipate the consortium not to routinely flare natural fuel extracted together with crude oil, heightening the value of gasoline reinjection.

The consortium led by Exxon, in which China’s CNOOC Ltd also has a 25% stake, has made 18 discoveries in the Stabroek block totaling more than 8 billion barrels of recoverable oil and gas, making the South American state the world’s most recent energy hotspot.

Output started in December 2019.

Reporting by Neil Marks in Georgetown Composing by Luc Cohen Enhancing by Leslie Adler and Sonya Hepinstall

Next Post

US client credit rose a sound $9.7 billion in December

The slowdown arrived as the class that includes credit history cards fell by $2.95 billion in December. That class has been up only two months around the previous calendar year as households eased off their use of their cards in the midst of a pandemic-induced recession. The report confirmed that […]