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ExxonMobil greenlights Liza development in offshore Guyana; $4.4B Phase 1 investment

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Exxon Mobil Corporation will proceed with the first phase of development for the Liza field, one of the largest oil discoveries of the past decade, located offshore Guyana. Production is expected to begin by 2020, less than five years after discovery of the field. Hess Guyana Exploration Ltd. Hess Guyana Exploration Ltd.

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ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

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billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183% of production. Offshore Guyana, ExxonMobil has discovered recoverable resources, including current proved reserves and additional resources, estimated to be 3.2 Additional exploration drilling in Guyana is planned in 2018 on the 11.5

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ExxonMobil evaluating significant near-term capital and operating expense reductions; COVID-19

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For 2020, the company anticipated an investment level of up to $33 billion, depending on the progress of individual projects. Production in Guyana is expected to reach more than 750,000 gross barrels of oil per day by 2025. million net acres.