“In March, we produced about 560,000 oil equivalent barrels per day, on pace to deliver a 25% increase versus 2021.”

In context

“rt of the Liza Phase 2. Production is ramping up ahead of schedule and is expected to reach capacity of 220,000 barrels of oil per day by the third quarter of this year. Combined with Liza Phase 1, we will bring our total production capacity in Guyana to more than 340,000 barrels per day. Our third project Payara is running ahead of schedule with start-up now likely by year-end 2023. Yellowtail, the fourth and largest project to date on the Stabroek Block, received government approval of our development plan, is on schedule to start up in 2025. Further adding to our portfolio, we have made 5 new discoveries this year that have increased the estimated recoverable resources to nearly 11 billion oil equivalent barrels. Turning to the U.S., we continue to grow production in the Permian Basin. In March, we produced about 560,000 oil equivalent barrels per day, on pace to deliver a 25% increase versus 2021. Looking forward, we're also growing our globally diverse portfolio of low-cost capital-efficient LNG developments. In Mozambique, the 3.4 million ton per year Coral South Floating LNG production vessel is being commissioned after arriving on site in January. Coral South is on budget with the first LNG cargo expected in the fourth quarter. In addition to investing in high-value opportunities in our existing businesses, we are also advancing opportunities in our Low Carbon Solutions business. During the quarter, we announced plans to build a large-scale hydrogen plant in Baytown, Texas. We anticipate the facility will have the capacity to produce up to 1 billion cubic feet of hydrogen per day. Combined with carbon capture, transport and storage of approximately 10 million metric tons of CO2”