Exxon Presses for Guyana Approval of Third Offshore Project

Exxon Mobil Corp is pressing Guyana’s newly-installed government for approval of its third offshore oil project, which has been under a months-long review that coincided with political turmoil in the South American country.

Exxon, which operates the Stabroek block as part of a consortium with Hess Corp and China’s CNOOC Ltd has discovered more than 8 billion barrels of recoverable resource of Guyana’s coast, had previously stated it planned to make a final investment decision on the Payara project around September.

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