ExxonMobil Announces $6.8 Billion Hammerhead Offshore Development in Guyana, Boosting Oil Production by 150,000 Barrels Per Day
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ExxonMobil has announced a $6.8 billion investment in the Hammerhead offshore development in Guyana, set to boost oil production by 150,000 barrels per day starting in 2029. This marks the company's seventh project on the Stabroek block, which will include 18 production and injection wells, contributing to a total capacity of 1.5 million barrels per day. ExxonMobil's commitment to Guyana's oil-and-gas sector exceeds $60 billion, with over $7.8 billion already paid into the country's Natural Resource Fund since 2019.
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