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ExxonMobil approved a $6.8 billion oil project in Guyana, set to start production in 2029.
ExxonMobil has approved the $6.8 billion Hammerhead offshore oil project in Guyana’s Stabroek Block, with production set to begin in 2029 using a floating production vessel capable of producing 150,000 barrels of oil per day.
The seventh major development in the block, it includes 18 wells and is part of a larger effort to boost Guyana’s output to over 1.5 million barrels per day.
Total investments in the Stabroek Block now exceed $60 billion, with ExxonMobil, Chevron, and CNOOC as partners.
Since 2019, the company has paid over $7.8 billion into Guyana’s Natural Resource Fund, and local employment and spending have significantly increased.
Other projects, Uaru and Whiptail, are under construction and expected to start production in 2026 and 2027.
ExxonMobil aprobó un proyecto petrolero de $6.8 mil millones en Guyana, que comenzará la producción en 2029.