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.