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ExxonMobil confirmed an exclusivity agreement with Var Energi for negotiations of a sale that could reach $4 billion, according to Reuters. If it goes through, the deal would make Var Energi the second-largest producer on the Norwegian Continental Shelf. Following a 42-day journey from Singapore, the Liza Destiny has arrived at the Stabroek Block offshore Guyana, where it is expected to produce up to 120,000 gross boe/D from the ExxonMobil-operated deepwater project upon startup. Approximately $200 billion in projects worldwide are racing to be approved over the next 2 years. The race is not just to make FIDs on projects, but also to enter FEED work to lock in contractors before others do.

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