ExxonMobil’s Chief Executive Officer, Darren Woods, says the Stabroek Block offshore Guyana is the industry’s biggest oil discovery in the last 15 years and ranks among the most successful developments in deepwater history.
“One of our most important advantaged assets is Guyana, where we recently marked the ten-year anniversary of our first oil discovery,” Woods said during the company’s Q2 2025 earnings call on Friday.
“With nearly eleven billion barrels of resource, it’s industry’s biggest oil discovery in the past fifteen years,” he stated.
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Exxon currently has three major developments online in the Stabroek Block, producing about 650,000 barrels of oil per day.
Woods emphasized the projects’ performance, saying, “The success of these projects has established Guyana as the world’s fastest growing economy.” He added, “It’s also one of the reasons I believe the Guyana development will prove to be one of the most successful deepwater developments of all time.”
Stabroek Block production ramp-up expected to move faster – Darren Woods | OilNOW
A fourth development, Yellowtail, is expected to come online this week. It will push Guyana’s production close to a million barrels per day.
Guyana has emerged as a key global contributor since production began at the Stabroek Block.
Exxon is the operator of the Stabroek block with a 45% stake. Chevron owns 30% and CNOOC owns 25%.
