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Exxon group to produce up to 180,000 bpd of oil at seventh Guyana project
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Exxon group to produce up to 180,000 bpd of oil at seventh Guyana project
Feb 17, 2025 10:10 AM

By Kemol King and Marianna Parraga

GEORGETOWN, Feb 17 (Reuters) - A consortium led by U.S.

major Exxon Mobil ( XOM ) plans to produce up to 180,000 barrels

per day (bpd) of oil and 95 million cubic feet per day (mmcfd)

of gas at its seventh project in Guyana, Hammerhead, according

to a document published by the country's environmental agency on

Monday.

The Exxon group, in which U.S. Hess and China CNOOC

also participate, has waited for the government's

green light for the project since last year. It also recently

requested approval for its eighth project, Longtail, the company

said last week.

Hammerhead will involve the drilling of between 14 and 30

development wells, the deployment of a Floating Production,

Storage and Offloading vessel (FPSO) and the construction of a

13-kilometer gas pipeline that will connect into the country's

flagship Gas-to-Energy project, Exxon said in its application

for environmental authorization.

"While much of the installation and production

operations activity will be offshore, the project will also use

onshore infrastructure operated by third parties, including, but

not limited to, shore bases and waste management facilities in

Guyana," it added.

Guyana has been pressing Exxon to produce and deliver

more natural gas, part of the government's strategy to rely on

the fuel for power generation, to industrialize the country and

begin petrochemical and liquefied natural gas (LNG) businesses

that can expand revenue.

Following gas from the Liza project expected this year,

Hammerhead would increase Exxon's gas supply to Guyana's shore.

The group must submit a field development plan to have

the project fully approved.

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