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Rystad Energy says ExxonMobil likely to sanction over $16B this year for its Guyana operations

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Norway-based Rystad Energy says US oil major ExxonMobil “looks primed” to make an offshore sanctioning splash in 2019 for its operations in Guyana. The company will be bringing forward over $16 billion for sanctioning, the industry analyst said.

“In fact, 2013 marked the last year where the supermajor brought forward this volume of greenfield offshore work for a final investment decision,” Rystad said in its January Oilfield Service Newsletter.

Continuing their patient, phased approach in Guyana, Rystad said ExxonMobil will be looking to bring this multi-billion-dollar price-tag for two phases of the Greater Liza project – Liza Phase 2 and Payara – forward for sanctioning. “This phased strategy is reminiscent of how the supermajor developed the deep-water Kizomba fields in the early 2000’s off the coast of Angola,” the analyst stated.

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