The Caribbean nation of Guyana is one of the world’s latest oil nations and, in the eyes of US oil giant ExxonMobil, is also one of the most interesting growth markets for black gold.

Accordingly, it marks an important step for the oil supermajor that floating production, storage and offloading unit Liza has started producing off the coast of Guyana, as reported by Upstream Online.

By the end of the year, ExxonMobil already expects the unit, which carries the same as the field it operates in, to reach peak production. This is the second offshore development project that ExxonMobilehas launched in Guyana.

The Liza FPSO targets supply of 220,000 barrels of oil and 400 million cubic feet of natural gas per day. Furthermore, it has a storage capacity of roughly 2 million barrels of crude.

The Liza field is situated in the resource-rich Stabroek block where the supermajor expects to deploy another three FPSOs towards 2025. ExxonMobil owns 45 percent of the block, while Hess and CNOOC control 30 and 25 percent, respectively.

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