12:14 PM EDT, 06/25/2024 (MT Newswires) -- Exxon Mobil ( XOM ) filed an environmental authorization application with the government of Guyana for possibly its seventh oil project in the country, Bloomberg reported Tuesday.

If the application, filed Monday, is approved, the Hammerhead project is expected to reach an output of as much as 180,000 barrels per day by 2029, Bloomberg reported, citing an interview with Exxon country manager Alistair Routledge.

The project would boost Guyana's overall production capacity to nearly 1.5 million barrels a day, about equal to OPEC member Nigeria, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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