Ministry of Natural Resources issues Production Licence for Liza field to ExxonMobil

GEORGETOWN, Guyana, June 15, 2017 – The Ministry of Natural Resources, today, approved the ExxonMobil Liza Phase 1 development plan and issued a production license for the Liza field. This is an important milestone towards the first phase of oil production at the Liza field offshore Guyana. Production is expected to begin in 2020.

Following the approval of the Production Licence and environmental permit, it is expected that ExxonMobil and co-venturers Nexen and Hess will make a final investment decision on the Liza Phase 1 development.

In a separate process, the Guyana Environmental Protection Agency issued the Liza field environmental permit on June 1. The environmental permit ensures that the environment is protected through the lifecycle of the project.

The Liza Phase 1 development plan includes completion of a floating production, storage and offloading (FPSO) vessel designed to produce up to 120,000 barrels of oil per day.