UPDATE 1-Exxon to shut down two platforms in Guyana for two weeks each for pipeline connection [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
GEORGETOWN, April 30 (Reuters) - Exxon Mobil Corp will shut down two offshore oil production projects in Guyana for two weeks each, between July and August, to connect a natural gas pipeline, the company's country head Alistair Routledge told reporters in Georgetown on Tuesday. The 140-mile (225-km) pipeline will feed Guyana's $1.9 billion gas-to-power project aimed at ending the country's dependence on imported fuels and at lowering energy costs for residents. Exxon has said it will halt production to fulfill a commitment made with local authorities to have the pipeline connected by year end, despite delays on the government-run onshore part of the project. At a press conference to update reporters on the company's works, Routledge said oil discoveries in the past two years were not enough to justify a revision of the estimated 11 billion barrels in recoverable resources at the Stabroek block. Exxon and partners Hess Corp and CNOOC currently pump all the South American count
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