XOM - Guyana's Oil Spigot Wide Open: Exxon Hess Sanction Massive $12.7B Oil Project | Benzinga
Exxon Mobil Corporation (NYSE:XOM) and Hess Corporation (NYSE:HES) made a final investment decision for the Whiptail development offshore Guyana following receiving the required government and regulatory approvals.
The Whiptail project, worth $12.7 billion, will target an estimated resource base of more than 850 million barrels of oil and include up to 10 drill centers with 48 production and injection wells.
Notably, ExxonMobil Guyana Limited holds 45% interest in the Stabroek block, Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC Petroleum Guyana Limited holds 25% interest.
Related: Exxon Considers Natural Gas ...