ExxonMobil says its track record in Guyana is strengthening its position with governments and other resource owners seeking companies to develop large and technically complex petroleum resources.
Senior Vice President and Chief Financial Officer Neil Hansen said governments and other resource owners increasingly recognize ExxonMobil’s project execution and operating capabilities.
“Our track record and a recognition of our capabilities certainly is leading us to being the clear partner of choice,” Hansen said during the company’s second-quarter 2026 earnings call held July 31. He said large-scale petroleum developments require companies that can manage major investments, apply technology, deliver complex projects, and maintain strong operating standards.
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Hansen said ExxonMobil is executing approximately twice as many megaprojects as its nearest international oil company competitor. He said those projects are being delivered at costs up to 20% lower than comparable industry projects. Delivery schedules are also approximately 20% faster than the industry average.
“When you look at resource owners, I think there’s absolute recognition of that capability, that track record of being able to do those three things really well,” Hansen said.
He identified Guyana as an example of the company’s ability to convert large resources into producing developments.
“We are in a, I think, nice position with resource owners, given what we’ve been able to accomplish in places like Guyana,” Hansen said.
ExxonMobil operates the Stabroek Block and has led the development of Guyana’s offshore production system. Gross production reached approximately 900,000 barrels per day during the second quarter of 2026.
Chairman and Chief Executive Officer Darren Woods said ExxonMobil applies the same investment tests when considering new opportunities in resource-rich countries.
He said projects must have a low cost of supply and generate returns above the industry average. ExxonMobil must also possess capabilities that distinguish it from competing developers.
Country risk is also factored into the required returns. Woods said ExxonMobil manages that exposure through the size and geographical diversity of its portfolio.
“One of the advantages of being large and having a very diversified portfolio is we can diversify out of specific risk, so we don’t have to bet the farm on any one location or any one place,” he said.
ExxonMobil operates the Stabroek Block with a 45% interest, alongside co-venturers Hess (owned by Chevron) and CNOOC. Four projects are currently producing offshore Guyana: Liza 1, Liza 2, Payara and Yellowtail.
