June 11, 2019 / 1:15 PM / a year ago

Exxon to proceed with long-term oil development in Argentina

June 11 (Reuters) - Exxon Mobil Corp said on Tuesday it was going ahead with a long-term oil development project in Argentina’s Bajo del Choique-La Invernada block.

The project is expected to produce up to 55,000 barrels of oil-equivalent per day (boepd) within five years, the company said.

If the expansion is successful, Exxon said it could invest in a second phase, which would produce up to 75,000 boepd. (Reporting by Arathy S Nair in Bengaluru; Editing by Shinjini Ganguli)

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