Guyana’s Finance Minister Dr. Ashni Singh says ExxonMobil and its tier one contractors have raised expectations for how Guyanese businesses deliver goods and services, particularly in the oil and gas sector.
Speaking at the Private Sector Commission (PSC) Annual General Meeting 2026 on May 29, Singh said local firms now operate in a highly competitive environment shaped by international standards.
“ExxonMobil and their tier one contractors have facilitated what I believe has been a quantum leap in the expectations that are had in relation to service delivery by Guyanese companies,” he said. “Guyanese companies understand that to win a contract with a company like ExxonMobil or with one of their tier one contractors, they have to be competitive, they have to deliver on time.”
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The Finance Minister noted that local firms are responding positively, as evidenced by the growing participation in oil and gas supply chains. He described this as a big win for the country’s private sector but urged continued progress beyond the energy industry.
“ …that quality of delivery must not only be attained or achieved in relation to the oil and gas sector. That quality and efficiency of delivery, the same quality and efficiency of delivery that people have demonstrated that they can achieve, must be achieved across the board,” he added.
ExxonMobil is the operator in Guyana’s Stabroek Block, where production began in 2019 and has since expanded. The block is producing more than 900,000 barrels per day from four floating production, storage and offloading (FPSO) vessels.
Exxon operates the Stabroek Block with a 45% interest, while Hess holds a 30% interest and CNOOC holds 25%.
