ExxonMobil (XOM.US) approves investment in Guyana's offshore Hammerhead oil and gas project, involving $6.8 billion.

According to the Securities Times, ExxonMobil (XOM.US) announced on Monday that it has made a final investment decision on the Hammerhead development project in the offshore of Guyana. This is the seventh project of the company in the oil-rich Stabroek block. The $6.8 billion Hammerhead project will include 18 production and injection wells, and is expected to start producing oil and gas in 2029.