Exxon to Invest $5 Billion in Guyana Extraction Venture

By Zainab Calcuttawala ExxonMobil will invest $5 billion in Guyana for an oil production and extraction venture in the Liza area of the Stabroek offshore drilling block with first profits expected by 2020, according to a report by the Jamaica Observer. Exxon’s local affiliate Esso Exploration and Production Guyana Limited (EEPGL) have applied for a license to extract fossil fuels in the South American nation, according to Jeff Simon, Exxon’s representative for the country. The affiliate has also contracted a floating production, storage and offloading (FPSO)…

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