Exxon Plans New Guyana Oil Project to Lift Output Into 2030s
- Hammerhead to up daily output capacity to 1.5 million barrels
- Project is smaller than others, tailored to specific resource
The ExxonMobil Guyana offices in Georgetown, Guyana.
Photographer: Jose A. Alvardo Jr./BloombergThis article is for subscribers only.
Exxon Mobil Corp. took the first step toward its seventh oil project in Guyana, a clear signal the supermajor intends to expand crude output from the South American nation into the next decade.
The Hammerhead project will pump as much as 180,000 barrels a day as soon as 2029, pending Guyanese government approval, Exxon country manager Alistair Routledge said in an interview.