Exxon Mobil Corp. announced Friday a final investment decision of $12.7 billion for an offshore project in Guyana that is expected to aggregate 250,000 oil barrels per day by 2027 in the South American state production.
The Whiptail represents the sixth multi-billion-dollar Exxon project in this country and it is forecasted to increase national oil "production capacity to approximately 1.3 million barrels" daily.
The company said in a statement that the six projects in the country "will generate tens of billions of dollars of revenue and significant economic development for Guyana."
