As Guyana strengthens its position as a growing global oil and gas supplier, ExxonMobil Guyana’s activities in the Stabroek Block are helping to stabilize the regional floating production market, according to a February 19 report from Rystad Energy.
The report said ExxonMobil’s Stabroek execution “provides regional stability, maintaining approximately one FPSO award annually”.
Additionally, it noted that Hammerhead continues the cadence established by the previously awarded One Guyana, Errea Wittu, and Jaguar units.
The Norway-based consultancy firm added that the pipeline of projects — Longtail, Haimara, Bluefin, and Fangtooth — runs through 2030 and “ensures sustained activity”, the report stated.
“The Longtail project is expected to be awarded this year at an estimated cost of $2.5 billion. This consistent pace provides contractors with multi-year visibility and supports yard planning,” Rystad Energy said.
U.S. oil major ExxonMobil has been advancing a 35-well offshore campaign in Guyana since 2023.
Oil production remained the dominant growth driver of Guyana’s economy. The Stabroek Block averaged just under 716,000 barrels per day in 2025, supported by output from Liza Destiny, Liza Unity, Prosperity, and the start-up of ONE GUYANA, which produced just under 191,000 barrels per day in the second half of the year.
ExxonMobil operates Guyana’s Stabroek Block with a 45% stake, with co-venturers Hess 30%, and CNOOC 25%. The Stabroek Block’s estimated resource base is approximately 11 billion barrels of recoverable resources.
