A consortium led by Exxon Mobil has requested environmental permits from Guyana for its eighth offshore project, marking the first development focused on gas production independent of oil extraction. Additionally, the company plans to explore another well within its vast offshore block, Exxon Guyana President Alistair Routledge announced on Wednesday.
Exxon aims to increase its production capacity to 940,000 barrels per day (bpd) this year, up from 616,000 bpd in 2024. The boost follows upgrades to two of its three floating oil production facilities and the anticipated arrival of a fourth vessel.