What is Esso Exploration & Production Guyana?

Esso Exploration and Production Guyana, an affiliate of ExxonMobil, operates the Liza 1 field and produces from a floating production, storage, and offloading (FPSO) vessel called the Liza Destiny. The vessel produces more than 120,000 b/d and has a storage capacity of 1.6 million barrels.

How much oil does Guyana have?

Guyana’s total energy consumption and inflation-adjusted GDP per capita, 2012–2022 Guyana had an estimated 11 billion barrels (b) of proved oil reserves as of January 2024. 16 The most significant offshore exploration program started in 2008 when ExxonMobil started collecting and analyzing seismic data, focusing on the Stabroek Block (Figure 4).

How does Guyana generate electricity?

Guyana primarily relies on heavy fuel oil for electricity generation (Figure 9). The vertically integrated, state-owned company called Guyana Power and Light (GPL) controls almost all of the country’s electric power sector.

Does Guyana have onshore resources?

Guyana also has onshore resources. The onshore Guyana Basin boundary extends 150 miles from the coastline into the land.30 The eastern part of the basin has the thickest sediment, reaching up to 8,202 feet.

Does Guyana have a high biofuel potential?

According to a study by CEPAL, Guyana has high biofuel potential, especially from sugarcane, which is a source of significant economic output in the country. The study suggested that if domestic vehicles used a blend of gasoline with 10% ethanol, Guyana could produce almost three times the expected demand for ethanol.57

Is Guyana a good country for electricity?

Despite Guyana's potential in hydropower and bagasse-based power generation, Guyana's installed capacity comes primarily from diesel-engine-driven generators. This high use of fossil fuels makes the electric power sector expensive and unreliable; electricity costs average $0.32 per kilowatthour, which is among the highest in the region.