ExxonMobil produced 4.3 million oil-equivalent barrels per day in 2024, the company’s highest rate in over a decade, according to its recently published annual report.
“This record production helped meet record global demand in 2024,” Chief Executive Officer Darren Woods said.
More than half of the company’s volumes now come from its “advantaged assets,” including the Permian Basin, LNG, and Guyana. Woods called Guyana “the world’s premier deepwater development.”
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“Technology is also driving our success in Guyana,” he said.
ExxonMobil announced plans for two new floating production, storage and offloading vessels to help recover the estimated 11-billion-barrel resource on its block.
“We expect to have eight boats operating there by the end of this decade,” Woods said, “with capacity reaching 1.7 million barrels per day.”
He noted that just a few years ago, Guyana had no oil production.
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“Today, our development is producing more than 650,000 barrels per day,” Woods said. “It’s still growing, with significant benefits for the Guyanese economy and its people.”
“For more than 140 years, we’ve met society’s evolving needs every step of the way,” he added. “Today, our transformed company is creating unmatched value.”
Woods said ExxonMobil’s “competitive advantages, especially our talented people,” will ensure its long-term role. “We are providing solutions the world needs and creating substantial shareholder value,” he stated.
ExxonMobil holds a 45% share in Guyana’s Stabroek Block.
