ExxonMobil has initiated production at the Payara oil field, Guyana’s third offshore oil development on the Stabroek Block. This major move elevates the total production capacity in Guyana to an impressive 620,000 barrels per day (bpd). Prosperity FPSO: A Leap Forward in Oil Production The company’s third Floating Production, Storage and Offloading (FPSO) vessel, Prosperity, […]
ExxonMobil and its Stabroek Block partner Hess Corporation have reached a final investment decision (FID) regarding the Uaru oil project, which will be developed with an investment of $12.7 billion in Guyana’s territorial waters. The FID decision comes after receiving the required regulatory and government approvals in the South American country. Uaru is the fifth […]
ExxonMobil said that its affiliates have agreed to divest all of the company’s interests in the Aera oil-production operation in California to Green Gate Resources E, a subsidiary of IKAV, for around $2 billion in cash with additional contingent payments to be made on future oil prices. The deal involves the sale of a stake […]
ExxonMobil and Hess have sanctioned the $9 billion Payara oil project in the Stabroek Block in Guyanese waters having secured government approval. The final investment decision (FID) taken on the Payara development project paves the way for the Payara discovery brought into production by taking up drilling of 20 production wells and 21 injection wells […]