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ExxonMobil to proceed with $9B Payara development offshore Guyana

Green Car Congress

ExxonMobil has made its final investment decision to proceed with the Payara field offshore development in Guyana after receiving government approvals. ExxonMobil’s first offshore Guyana project, Liza Phase 1, began producing in late 2019, well ahead of the industry average for development time. Hess Guyana Exploration Ltd.

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

Green Car Congress

The company is closely monitoring the COVID-19 pandemic and has adjusted work arrangements to ensure a healthy work environment and support communities where it operates. For 2020, the company anticipated an investment level of up to $33 billion, depending on the progress of individual projects. million net acres.

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ExxonMobil seeking to boost growth, continue work on lower-emissions technologies including biofuels and carbon capture

Green Car Congress

In Guyana, ExxonMobil recently announced the 13 th discovery on the Stabroek block, adding to the previously estimated 5.5 Guyana’s first oil production is on track for early next year, five years after discovery. In Brazil, the company has acquired 2.3 billion barrels of discovered recoverable resource. —Darren Woods.