ExxonMobil Guyana Limited Vice President and Business Services Manager, John Colling, on Tuesday, defended an application by the oil giant to increase oil production in the Stabroek Block, Offshore Guyana.

With four Floating Production Storage and Offloading (FPSOs) in operation, the company is producing just over 900,000 barrels of oil per day.

Exxon is hoping to increase production by 30,000 barrels of oil per day using the One Guyana Floating Production Storage and Offloading (FPSO), which would push daily production to over 1 million barrels per day.

At a press conference, the senior Exxon official said the intention is to maximize gains for all parties involved.

“As you are aware ExxonMobil Guyana Limited as the operator is always looking to optimize our production, really for the benefit of all parties, and in some instances that involves producing above the original nameplate capacity,” Colling said.

The One Guyana FPSO – the largest oil production vessel in the Stabroek Block – was designed to produce approximately 250,000 barrels of oil per day.

Exxon believes that it has the capacity to produce much more. Colling said the application to the Government also took the issue of safety into consideration

He said safety remains a top priority for Exxon.

“So, we will not increase production unless we are fully satisfied that all safety requirements are being met, including safety for the environment, and safety for our people. Assuming we can do that, we would look to increase production because our responsibility as operator of the block is to maximize revenues for all parties,” Colling explained.

In a recent interview, the Minister of Natural Resources, Vickram Bharrat told reporters that the Government is carefully considering the request by Exxon.

It was explained that as part of the review, the Petroleum Unit of the Guyana Geology and Mines Commission would be required to conduct an on-site visit of the FPSO.

Minister Bharrat said while the Natural Resources Ministry granted approval for the production levels to be increased on the other FPSOs in the past, it is important for the Petroleum Unit to carefully assess the safeguards in place.

The One Guyana FPSO is operating alongside three other FPSOs – Liza Destiny, Liza Unity, and Prosperity in the Stabroek Block.

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