Green Car Congress

OCTOBER 2, 2020

ExxonMobil has made its final investment decision to proceed with the Payara field offshore development in Guyana after receiving government approvals. Ten drill centers are planned along with up to 41 wells, including 20 production and 21 injection wells. As new projects proceed, investment in the Guyana economy increases.

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Green Car Congress

JANUARY 6, 2022

ExxonMobil made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. Fangtooth was drilled by the Stena DrillMAX, and Lau Lau was drilled by the Noble Don Taylor, which are two of six drillships supporting exploration and development drilling across three blocks operated by ExxonMobil offshore Guyana.

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Green Car Congress

APRIL 29, 2021

ExxonMobil announced an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana ( earlier post ). In March 2021, ExxonMobil secured a sixth drillship, the Noble Sam Croft, for exploration and evaluation drilling activities offshore Guyana. These new projects continue to drive investment in the Guyanese economy.

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Green Car Congress

OCTOBER 8, 2021

ExxonMobil increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana ( earlier post ) to approximately 10 billion oil-equivalent barrels. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest in the Stabroek Block.

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Green Car Congress

JANUARY 11, 2023

EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2023 and $3.10

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