ExxonMobil has moved closer to a final investment decision on the second phase of Guyana’s Liza project after the country’s Environmental Protection Agency (EPA) concluded a delayed permitting process.
The approval process was held up for several months because the EPA was not satisfied that $2 billion-worth of insurance coverage secured through a UK insurance firm met local requirements.
EPA head Vincent Adams confirmed to Upstream that the ExxonMobil-led consortium has now met requirements for issue of the permit, although this is yet to be confirmed by the oil companies.
