Dear Editor,
As a public analyst, I have been closely monitoring the performance of the global oil industry in recent years. Notably, ExxonMobil’s progress in Guyana stands out, and 2025 has already marked another phase of significant development that contributes to our country’s natural resources being used to further solidify our place as a leading nation on the world stage.
Several oil-producing nations — including Russia, Nigeria, Suriname, and Venezuela — have encountered industry-related challenges in recent years. Despite these issues elsewhere, Guyana continues to advance steadily and impressively.
Current projections indicate that the full suite of developments planned for the Stabroek Block could raise Guyana’s total production capacity to approximately 1.7 million barrels of oil per day (bopd) by 2030. ExxonMobil’s operations have expanded at an exceptional pace, supported by major investment, advanced technology, and sustained capacity building.
The offshore ventures within the Stabroek Block have been described by ExxonMobil as the company’s “most successful deepwater developments” globally. This speaks not only to the extraordinary resource potential but also to the strategic and operational excellence driving the projects. ExxonMobil holds a 45% operating stake, with co-venturers Hess Guyana Exploration Ltd. (30%) and CNOOC Petroleum Guyana Limited (25%) forming the remainder of the partnership.
In 2025, ExxonMobil began production at its fourth offshore development — the Yellowtail Project. This milestone pushed Guyana’s total installed production capacity beyond 900,000 bopd, securing the nation’s position as one of the fastest-growing oil producers in the world.
Guyana’s economic landscape is unique. As a previously underdeveloped country with a small population and limited historical infrastructure, the benefits of offshore oil production have a greater probability of translating into direct national growth. This contrasts sharply with older oil-producing economies where longstanding challenges — such as inequality, entrenched corruption, environmental degradation, and aging institutions — often diminish the developmental impact of increasing production.
As Guyana continues its remarkable rise in the global oil and gas arena, careful and responsible stewardship of these resources will be critical. The decisions made today will shape the country’s long-term economic stability, institutional strength, environmental resilience, and overall social development.
Sincerely,
Blane Bunbury
