Exxon Mobil's Longtail FEED Deal Highlights Guyana Growth And Project Risks [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
ExxonMobil Guyana Limited has awarded SBM Offshore Front End Engineering and Design contracts for a new FPSO on the Longtail development. The contracts cover planning, funding and hull allocation for a major production asset in ExxonMobil's Guyana portfolio. This FEED award marks progress toward potential future production ramp up in the Guyana region for NYSE:XOM. For NYSE:XOM, Guyana has become a central hub in its oil portfolio, and the Longtail development is part of that broader offshore program. The FEED contracts for the new FPSO point to formal work beginning on design and project planning, which is a key phase before any final investment decision is taken. Investors tracking ExxonMobil's upstream projects may see this as another building block in the company's Guyana plans. From here, progress on engineering, cost estimates and project timing will be important checkpoints for anyone following ExxonMobil's future production profile in the basin. The FEED award does no
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