((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
Oil giant ExxonMobil XOM.N said on Wednesday it had reached 500 million barrels of oil produced from Guyana's Stabroek offshore block since production began in 2019.
The Exxon-led consortium, which includes Hess HES.N and CNOOC Ltd 0883.HK , is responsible for all production in the South American country.
The aim is to increase production capacity to more than 1.3 million barrels of oil per day by the end of 2027, once six approved offshore projects have been implemented.
The first three – Liza Phase 1, Liza Phase 2 and Payara – pump an average of more than 650,000 barrels per day, Exxon said in a statement.
The Stabroek block is a point of disagreement in the takeover of Hess by Chevron CVX.N for 53 billion dollars. Exxon and CNOOC are contesting the deal, arguing a primary contractual right to buy Hess's stake in the field, an issue that will be decided by a three-person arbitration panel in May next year.
Last year, the consortium's deal with Guyana generated $6.33 billion for the partners, according to government data, with Exxon earning $2.9 billion, Hess $1.88 billion and CNOOC 1 .52 billion dollars, according to Stabroek.
