Exxon Hits 500 Million-Barrel Oil Milestone In Guyana ...Middle East

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Exxon Hits 500 Million-Barrel Oil Milestone In Guyana
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U.S. oil and gas giant, Exxon Mobil Corp. (NYSE:XOM) announced on Wednesday it has reached 500M barrels of oil produced from Guyana's offshore Stabroek block, just five years after it kicked off production at the location. The Exxon-led consortium which includes Hess Corp. (NYSE:HES) and China's Cnooc (OTCPK:CEOHF) have set a target to reach production of at least 1.3M bbl/day of oil by year-end 2027, a feat it hopes to achieve when six approved offshore projects come online. According to Exxon, the first three projects--Liza Phase 1, Liza Phase…

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