US energy giant ExxonMobil said on 3 May it has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals.

Liza Phase 2 will produce up to 220,000 barrels of oil per day and further capitalize on the significant development potential of the Stabroek Block, where ExxonMobil estimates producing more than 750,000 barrels of oil per day by 2025, ExxonMobil said, adding that the US company to proceed with Liza Phase 2 development offshore Guyana.

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