XOM Exxon Mobil Corp

   By Stephen Nakrosis 
 

Exxon Mobil Corp. (XOM) said Friday it will proceed with the Liza Phase 2 development, which has received government and regulatory approvals and is expected to begin producing oil by the middle of 2022.

The company said the Liza 2, which is offshore Guyana, is expected to produce about 220,000 barrels of oil per day.

Exxon Mobil said six drill centers are planned, with about 30 wells, including 15 production, nine water injection and six gas injection wells. Liza Phase 2 is expected to cost $6 billion, the company said.

Phase 1 of the project is expected to begin producing first oil by the first quarter of 2020, the company said. It is expected to produce about 120,000 barrels of oil per day.

Exxon Mobil said it is also expecting to make a decision later this year on a third phase of development. Payara is expected to produce between 180,000 and 220,000 barrels per day, and a startup date could be as early as 2023. Exxon Mobil said it is awaiting government and regulatory approvals before making a decision.

By the end of 2019, Exxon Mobil will have four drillships operating offshore Guyana, the company said.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

May 03, 2019 14:36 ET (18:36 GMT)

Exxon Mobil (NYSE:XOM)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024

Exxon Mobil (NYSE:XOM)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024