May

Exploration

This is the initial phase where potential sites for drilling are identified using seismic surveys and exploratory drilling.
For the Liza project, the Liza-1 well was the first significant oil find offshore Guyana, announced in May 2015. It encountered over 295 feet of high-quality oil-bearing sandstone reservoirs.

After the discovery, the appraisal phase involves assessing the size and extractability of the oil reserves.
Multiple wells are drilled, and further seismic surveys are conducted to better understand the reservoir. For example, the Payara and Yellowtail discoveries were part of this ongoing appraisal process in the Stabroek Block.

During this phase, the feasibility of the oil field is assessed, including estimating the potential yield and costs.
Detailed documents are created to guide investment decisions. This involves geophysicists, petroleum engineers, and production engineers to determine the potential yield and cost of production.

This phase involves creating high-quality process and engineering documents that outline project requirements for engineering, procurement, and construction.
Technical specifications, processes, equipment, materials, and cost estimates are detailed. This phase helps in making investment decisions with an estimated project cost accuracy of around 15%.

Detailed engineering plans are drafted, and the essential resources needed to build the oil rig are determined and planned.
This stage includes specific technical specifications, layouts, and configurations. Procuring the required materials, equipment, and services is crucial for the upcoming construction phase.

This phase involves building the designs from the previous stages. Skilled laborers, guided by engineers and overseen by project managers, translate the engineering blueprints into tangible structures and operational systems.
Activities include creating stable well pads, installing wellheads, building storage tanks, and setting up essential machinery and equipment necessary for extraction and production.

For the Liza Phase 1 project, a floating production, storage and offloading (FPSO) vessel was used, producing over 120,000 barrels of oil per day. The project includes four drill centers with 17 wells (eight oil producing wells, six water injection wells, and three gas reinjection wells).
Liza Phase 2 involves a second FPSO vessel, Liza Unity, with six drill centers and 30 wells (15 oil producing wells, nine water injection wells, and six gas injection wells), targeting up to 220,000 barrels of oil per day.

After installation, the primary focus is on setting up and testing the machinery and equipment to ensure they function properly.
Technicians conduct functional testing on the machinery, and simulation engineers run simulations to replicate potential scenarios and plan contingencies.

This is the operational phase where the oil field’s designed systems, structures, and processes are put to practical use.
Reservoir engineers monitor the field's performance to plan additional wells or improvements to boost production and maximize the amount of hydrocarbons recovered. Operations and maintenance costs are managed to ensure safety and efficiency.

The Payara development plan includes a third FPSO vessel, Prosperity, targeting 220,000 barrels of oil per day. The project involves 10 drill centers with 41 wells (20 production wells and 21 water and gas injection wells).

Once the field is at the end of its production cycle and no longer profitable to maintain, the site will be decommissioned.
This involves the removal of rigs, production facilities, and any infrastructure, with efforts to reclaim as much material as possible.

Government: Regulates the industry, provides fiscal and legal infrastructure, and collects and distributes revenues.
National Oil Companies: State-owned organizations that engage in exploration and production activities.
International Oil Companies: Organizations that operate across the entire supply chain.
Operators: The owner or manager of the project, responsible for production.
Contractors: Companies involved in contractual relationships to deliver elements of the project.