A consortium led by U.S. Exxon Mobil is set to begin the installation of its fourth floating oil production facility in Guyana. This development was announced by the South American country's maritime regulator.
The installation of this new floating production, storage, and offloading (FPSO) vessel is a critical step towards significantly increasing oil production capacity from the prolific Stabroek Block. Guyana remains a cornerstone of ExxonMobil's upstream growth strategy.
This operational milestone underscores the rapid pace of development in Guyana and ExxonMobil's commitment to maximizing value from its advantaged assets. The new facility will contribute to the company's ambitious long-term production targets for the region.
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