Exxon Mobil Commences Drilling Offshore Guyana Projects

Exxon Mobil Corp. (NYSE: XOM) said June 12 it started development drilling in three offshore Guyana projects, which could produce more than 500,000 barrels per day (bbl/d) of oil.

The Irving, Texas-based company said it expects to start producing oil from these developments in 2020.

The projects, known as Liza Phase 1, include the conversion of an oil tanker into an FPSO vessel, which would have a production capacity of 120,000 bbl/d of oil.