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Guyana Attracting Further Investment for Oil Production

OIL

Exxon Mobil is preparing to approve its fifth oil production project in Guyana and is considering taking additional exploration acreage.

  • Along with partners Hess and CNOOC, they aim to pump 1.2 million barrels of oil and gas per day by 2027 – nearly triple last year’s output.
  • Guyana estimates its fields could hold 25 billion barrels and aims to produce 1.64 million bpd by the end of the decade.
  • The country is one of the fasting growing regions for oil production in the world.


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