Reported 1 day ago
Exxon Mobil has approved a $6.8 billion investment for its Hammerhead project in Guyana, marking its seventh development initiative in the region. This project aims to boost the country's oil production to 1.7 million barrels per day by 2030. The first oil is expected to be extracted by mid-2029, utilizing a floating production vessel capable of processing 150,000 barrels daily, while also facilitating a gas-to-energy initiative using associated gas from the site.
Source: YAHOO