Exxon Mobil Corp said on Friday it and partners would spend $4.4 billion to develop part of the Liza oilfield off the coast of Guyana, approving a megaproject at a time when the oil industry has grown obsessed with lower-cost shale.
BP Plc and Reliance Industries said on Thursday they would spend $6 billion to develop natural gas reserves off the Indian coast.
"We're excited about the tremendous potential of the Liza field and accelerating first production through a phased development in this lower cost environment," Liam Mallon, Exxon's head of development, said in a statement.
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