ExxonMobil’s deepwater oil strategy has positioned Guyana as a global leader in oil production. According to John Ardill, Vice President of Global Exploration at Exxon, Guyana’s oil production has surged to over 650,000 barrels per day since the discovery in 2015.
Ardill emphasized the significance of technology in deepwater oil extraction. “All of our energy production exploits, whether it’s oil and gas or renewables, have an impact on the biosphere,” he said, adding that the company employs high-end technologies for subsurface imaging and efficient extraction with minimal emissions.
Guyana’s rapid growth mirrors other oil-rich nations like Norway, which also excels in deepwater oil production. “Production is expected to reach 1.2 million barrels a day by the end of 2027,” Ardill noted. This success has transformed Guyana into the fastest-growing economy globally, poised to become one of the richest countries per capita.
IHS Markit applauds speed of Guyana’s deepwater developments, environmental commitments | OilNOW
Ardill advocated for a problem-focused approach to energy policy. “Rather than telling energy companies what the solution is, tell them what the problem is,” he advised. This strategy has enabled Exxon to develop and extract resources efficiently while aligning with international safety and operational standards.
Exxon holds a 45% interest in the block. Hess holds 30%, while CNOOC holds a 25% interest.
