ExxonMobil’s Upstream President, Liam Mallon, says in almost every scenario moving forward, when it comes to meeting the world’s energy needs, oil and gas remain vital.
This will be a key part of his message at the International Energy Conference which opens on Tuesday, February 14, 2023, in Georgetown, Guyana.
He said it is important to remind audiences of the sector’s importance in the global macroeconomy.
“We’ve seen particularly with the crisis in Ukraine, with underinvestment even going into the [war], how vitally important it is that we continue to invest in oil and gas… we can do it with lower emissions, and we can do it and still deliver value to our shareholders,” Mallon told OilNOW.
ExxonMobil has committed to spending more than US$100 billion in the 2023-2027 period on projects critical to meeting the world’s demand for energy. This amounts to US$20-25 billion per year. A big part of the company’s plans is a continuation of the incredible growth story in Guyana. Already, Exxon has brought on two projects in the Liza field, with production levels hovering about 380,000 barrels per day (bpd). In the 2023-2027 period, four more projects are expected to fall into place in the Stabroek Block.
A timeline of Exxon’s oil development projects in Guyana | OilNOW
Mallon said there are enormous benefits being derived quickly in Guyana.
Discussing what makes this happen, the Exxon President said, “In my mind, it truly is about partnership. It’s about partnership the whole way along that value chain. We the co-venturers, we the government, we the suppliers, we the technology contractors, it is a superb example of what an aligned partnership with a common set of goals can do…”
Mallon is expected to explore these themes in his conference address.
The theme of this year’s International Energy Conference and Expo is ‘Harnessing Energy for Development’. Bringing this message home will be multiple regional leaders, including Guyana’s President, Dr. Mohamed Irfaan Ali; Suriname President, Chandrikapersad Santokhi; Prime Minister of Trinidad and Tobago, Dr. Keith Rowley; and Prime Minister of St. Vincent and the Grenadines, Dr. Ralph Gonsalves.
The Conference is expected to cover themes like skills development, regional collaboration, women in energy, and sustainability in the development of Guyana’s petroleum sector.
The event is expected to run from February 14-17.