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XOM-EXXON MOBIL CORP

ExxonMobil Advances Oil Production in Guyana with New FPSO Developments and Plans for Increased Capacity

Tuesday

26 November, 2024

ExxonMobil is making significant strides in Guyana, having produced 500 million barrels of oil since 2019 and aiming to double that output by 2027. With the upcoming FPSO Jaguar and ambitious plans in natural gas, can Exxon maintain its momentum amidst potential challenges?

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Key Takeaways
  • Exxon's production growth in Guyana's Stabroek block highlights its potential for substantial revenue increase.
  • The company aims to exceed 1.3 million barrels per day by 2027.
  • The FPSO Jaguar will further enhance Exxon's production capabilities.
  • Exxon's $30 billion Gas to Energy initiative targets regional demand and lower electricity expenses.
  • Strategic alliances with Hess and CNOOC strengthen Exxon's position in the energy sector.
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