A consortium led by Exxon Mobil that controls all oil and gas output in Guyana produced 668,000 barrels per day (bpd) of oil last week, the U.S. company's head for the South
A consortium led by Exxon Mobil that controls all oil and gas output in Guyana produced 668,000 barrels per day (bpd) of oil last week, the U.S. company's head for the South American country, Alistair Routledge, said during a conference on Tuesday.
The group is working to install its fourth floating output facility after receiving it in Guyana's waters in February. In March, the companies produced 627,000 bpd, and the 631,000 bpd average achieved in the first quarter was 3% higher year-on-year, data from the country's energy ministry showed last month.
The Exxon consortium, which has six oil projects fully approved for developing its massive Stabroek offshore block, will expand output capacity to over 900,000 bpd later this year after the fourth facility is plugged, increasing revenue and royalty payments to the government.
Guyana is pressing the Exxon group to produce and deliver more natural gas in coming years.
A $1-billion pipeline that will transport gas from one of its offshore fields onto land for power generation will initially transport at least 50 million cubic feet per day, Routledge said, while speaking onstage at the Offshore Technology Conference in Houston.
In an interview on the sidelines of the
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