Tag Archives: ExxonMobil’s offshore Liza Phase-1 project

Guyana’s Oil: Projected cost for Exxon’s Liza Phase-1 slashed by US$700M

 Exxon’s Liza Phase-1 slashed by US$700M

Stabroek News – 16 December 2018 – 

John Rielly

The development cost for ExxonMobil’s offshore Liza Phase-1 project has been significantly revised from the projected US$4.4 billion to US$3.7 billion.

The US$700 million reduction was made public by one of the company’s two partners in the offshore Stabroek Block operations, Hess.

“The original Exxon estimate for Phase 1 was US$4.4 billion; it is now US$ 3.7 billion. Exxon is doing a terrific job, the drilling campaign is going well, we will keep learning as we progress…and that includes the acquisition of the ship,” Senior Vice Presidentand Chief Financial Officer at Hess, John Rielly, told an investor forum in Houston Texas, which was held on December 12th, 2018.              Continue reading

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