ExxonMobil Guyana will begin drilling development wells for the 220,000 barrels per day Liza Phase 2 Development project early 2020 and is already looking to bring in a fourth drill ship by the end of this year, to facilitate the process.

So says GeoScience Upstream Manager at ExxonMobil Guyana, Doug McGehee, speaking at the launch of the Georgetown Chambers of Commerce and Industry (GCCI) Business Guyana magazine on Friday evening at the Pegasus Hotel in Georgetown, according to Oil Now.

“We’re going to need to start drilling the development wells for Liza Phase 2 early next year. So, if we have three rigs; one of them – Noble Bob Douglas – drilling development wells for Phase 1, next year another one of those rigs that is now drilling exploration wells will start drilling development wells – the Noble Tom Madden. That leaves us only one rig drilling exploration wells,” he said.

“Well if we keep finding oil, we are going to need another rig; so that’s why we are bringing in a fourth rig,” the GeoScience Upstream Manager told those gathered.

Finding oil is what the company has been doing in the South American country, almost on a nonstop basis since 2015 when it made the giant Liza discovery on the now prolific Stabroek BlockCurrent estimated recoverable reserves exceed 5.5 billion barrels of oil equivalent.