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Exxon Plans to Greenlight Giant Guyana Oil Discovery in 2017

  • Liza field would employ floating production and storage vessel
  • SBM Offshore contracted for engineering and design of ship
Updated on

Exxon Mobil Corp. plans to formally approve investing in the 1.4-billion barrel Liza oil discovery off the coast of Guyana by the end of 2017.

Exxon hired SBM Offshore NV to design a floating production and storage vessel that will handle crude pumped from the field 120 miles (193 kilometers) off Guyana’s coast, the Irving, Texas-based explorer said in a statement on Tuesday.