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Exxon boosts Guyana block resource estimate to 4 billion barrels

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ExxonMobil has boosted its estimate of recoverable oil in its offshore Guyana block to 4 billion oil-equivalent barrels, up from the previous estimate of 3.2 billion oil-equivalent barrels.

Apart from lifting its resource estimate of the giant Stabroek offshore block where it is already developing the first phase of the Liza field, ExxonMobil said on Monday it advanced its evaluation to support the third phase of development and consideration of two additional phases.

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