Authorities in Guyana have officially granted ExxonMobil an Operating license following the recent acquisition of an environmental license from the Guyana Environmental Protection Agency (EPA).
ExxonMobil announced a commitment to begin Phase One of the Liza Development Project at an estimated cost of US$4.4bn. Oil extraction is expected to begin in 2020 with a potential extraction rate of 100,000 to 120,000 barrels of oil per day.
