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AP National Business

ExxonMobil discovers more oil off Guyana’s coast

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KMIZ

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Published 11:40 AM

SAN JUAN, Puerto Rico (AP) — ExxonMobil says it has made two additional oil discoveries off the coast of Guyana as the South American country prepares to become the world’s newest major oil producer. The discovery announced Wednesday occurred in an area where officials believe they can extract at least 10 billion oil-equivalent barrels. The company said a vessel that arrived in Guyana late last year is expected to start producing in upcoming months with a target of up to 220,000 barrels of oil a day. Officials said another vessel will start production in 2024.

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