The Exxon Mobil Corp.-led Payara oilfield development offshore Guyana took a leap forward with partners agreeing to proceed with the $9 billion project.

The final investment decision announced by Exxon and Hess Corp. late Sept. 30 came after the Guyanese government gave the project the green light, paving the way for the third major development off the prolific Stabroek Block where recoverable resources are more than an estimated 8 billion boe.

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