ExxonMobil Guyana Limited (EMGL) on Sunday rejected suggestions that it is concealing oil discoveries made in the offshore Stabroek Block, saying it has complied with all legal reporting requirements.
The statement follows a story in local publication – Kaieteur News, questioning why three 2025 discoveries referenced in the Ministry of Finance’s mid-year report were not publicly announced by the company.
Exxon said it is legally required to file a Notice of Discovery with the Ministry of Natural Resources for every hydrocarbon find, regardless of size or commercial viability, and has “fully complied” with this obligation. The three wells cited in the mid-year report were among the 51 notices submitted to the government to date, the company said.
Exxon said more than 30 significant discoveries were announced of that lot, explaining, “EMGL publicly announces all significant discoveries – those that materially impact resource estimates or development plans. The three wells mentioned in the report do not meet this threshold.”
Exxon, along with co-venturers Hess (acquired by Chevron) and China’s CNOOC, estimates 11 billion barrels of oil equivalent have been discovered in the Stabroek Block. This discovered resource estimate was provided back in 2022. The company has faced questions from the media regarding the current estimate of discovered resources since several additional discoveries have been made since then.
Exxon has said the estimate will be updated when there is material improvement.
The discovered resources have to date underpinned installed crude production capacity exceeding 900,000 barrels per day.
“We remain committed to operating responsibly and transparently, in full alignment with contractual and regulatory requirements,” the company said.
