ExxonMobil: advances Guyana offshore oil project

(CercleFinance.com) - ExxonMobil said on Tuesday that Guyana's Liza Phase 1 development is continuing to progress "rapidly," with offshore drilling now underway.


Development drilling began in May for the first of 17 wells planned during the first phase of the project, laying the foundations for a production startup in 2020.

Together, the project's three parts are expected to produce over 500,000 barrels of oil per day, Exxon said.

Copyright (c) 2018 CercleFinance.com. All rights reserved.