EXXON Mobil agrees to expand $ 6.8 billion abroad from Guyana – the first with Chevron’s competitor as a partner

The new project, named Hammerhead, is the first from Exxon with Archrival Chevron As her largest partner in Guena, after Chevron closed in July, she acquired $ 53 billion Hydrate. Exxon sought the Hesse Chevron deal, but Chevron He won the intended arbitration battle strongly It lasted more than a year.

HESS ’30 % in Development Development – which can be the largest discovery of oil in the century – is the crown jewel to acquire Chevron. Exxon discovered Gianna 10 years ago in partnership with Hess and a Chinese company, CNOOC. Chevron prevailed and prevailed on their argument that Exxon’s right to reject the Hessa share in Guyana It did not apply to the acquisition process Hess in its entirety. The acquisition advanced forward and made the deal, Exxon and Chevron partners in Guena after the legal battle.

Hammerhead 150,000 barrels of oil are expected to produce daily when the Internet is done in 2029. The development of the total Guyana of Stabroek outside. roadblock It currently produces about 650,000 barrels per day, which reaches more than 900,000 barrels by the end of this year.

By 2030, Exxon (No. 8 on The Fortune 500) expects the total production capacity of 1.7 million barrels per day of eight oils.

“We continue to set a new standard in Guyana,” Dan Oman said in a statement. “In cooperation with the people and government of Guyana, we helped build a new oil and gas industry in the country that creates job opportunities, suppliers, profits and follow -up investments.”

Chevron (No. 16 on Fortune 500) refused to comment on this story, authoring Exxon’s statement.

At the beginning of September, Guyana Erfan Ali won his re -election in a nation less than a million people. The elections were good news for Exxon and Chevron because Ali is a supporter of oil development. Ali says that he uses oil revenues to build infrastructure and education, but opponents have argued with the great wealthy oil, While people are still poor.

The United States and Axon increased the security beach of Joyana this year amid fears of incursions from neighboring Venezuela, with the United States warning against the attacks on Guena or Exxon’s operations. Venezuela has sparked a border conflict abroad for a long time since the oil discoveries.

Along With prosperity The Bermean Basin in West Texas, Guyana is now the largest oil growth work For major players in oil In the United States.

Fast accumulation from Guyana

Exxon discovered the large oil in the Stabroek bloc in 2015 after Chevron and many other oil producers rejected the opportunity to invest in exploration, and they appeared as an operator and owner of 45 % for development.

The other two partners, the Chinese hess and CNOC, carry 30 % and 25 %, respectively. Although Chevron has a Hess’s share now, Exxon’s announcement on September 22 is still lisking its highest partner as a subsidiary “Hess Guyana Explography”.

In the Chevron profit call in the second quarter, the Chairman and CEO Mike described and inherits “long -cost growth in Guyana”.

The Chairman and CEO of Exxon, Darren Woods, said that he welcomed Chevron in the Stabroek bloc despite a “surprise” and “disappointment” about the arbitration award.

In August, Exxon started production in Yellowtail, the development of the fourth oil abroad from Guyana. The yellow tail project allows the continuous slope of 900,000 barrels of oil per day.

The fifth and sixth projects of the project – UARU and Whiptail – are well ongoing and the Internet is expected to take place in 2026 and 2027.

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