(Oil Price) – ExxonMobil’s eighth oil project offshore Guyana will also be the biggest natural gas development of the Exxon-led consortium in the prolific Stabroek Block. Exxon and its partners in Guyana’s oil projects, U.S. Hess Corp and CNOOC of China, expect to produce up to 1.5 billion cubic feet per day (bcfd) of natural gas and 290,000 barrels per day
(Oil Price) – Chevron is betting on the multi-billion acquisition of Hess Corp to boost its assets with high-quality Guyana acreage where billions of barrels of oil equivalent have been discovered. Chevron’s reserves replacement ratio has dropped in recent years and its oil and gas reserves have now declined to the lowest level in at least a decade, according to a Reuters
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