Liza 2 sanction slips as Guyana workload grows

ExxonMobil has delayed a final investment decision on the second-phase development of the giant Liza play off Guyana as President David Granger’s government tries to reconcile an aggressive development schedule with domestic complaints about terms granted to the US supermajor.

ExxonMobil said in July that it was aiming to sanction the Liza 2 development by the end of this year, chasing first oil by mid-2022, but the final investment decision target has slipped back to the first quarter of 2019, according to industry sources.