Chevron Chief Executive Officer Mike Wirth says Guyana has experienced an “extraordinary” rise as a global energy producer, outlining the country’s rapid emergence as a major source of new oil discoveries.
In a March 10 LinkedIn post reflecting on his recent participation in the Guyana Energy Conference and Supply Chain Expo, Wirth said the South American nation has quickly established itself as a key contributor to the world’s growing energy supply.
“Guyana’s rise has been extraordinary. In just a few years, it has become a leading source of new oil discoveries and one of the world’s fastest-growing economies,” he wrote. Wirth said Chevron is now positioning itself to support that growth after securing a stake in the prolific Stabroek Block earlier this year.
“Chevron is proud to now be part of that journey, bringing deep offshore experience and a long-term commitment built on partnership,” he stated.
Chevron acquired a 30% interest in the Stabroek Block through its takeover of Hess Corporation, following a lengthy legal dispute with ExxonMobil over rights tied to the acquisition. ExxonMobil, which operates the block and holds a 45% interest, ultimately welcomed Chevron despite earlier expressing disappointment with the ruling. CNOOC holds the remaining 25%.
The Stabroek Block, located offshore Guyana, has become one of the world’s most successful deepwater oil provinces since the first major discovery in 2015. More than 11 billion barrels of oil equivalent have since been discovered there, driving rapid economic expansion in Guyana and placing the country among the fastest-growing economies globally.
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Wirth emphasized the broader role energy plays in development, noting that global cooperation is critical as demand continues to increase.
“At Chevron, we believe a simple truth: affordable, reliable energy enables human progress. Energy abundance raises living standards, strengthens economies, expands access to education and healthcare, and creates opportunities for people around the world,” he said.
He also stressed the need for collaboration among governments, industry and communities.
“In today’s complex global energy system, no country or company can do it alone. Progress depends on collaboration between governments, industry and communities, working together to deliver energy that supports prosperity, energy security and responsible development,” Wirth said. Looking ahead, he said Guyana has a chance to demonstrate how energy resources can drive broad-based development.
Chevron recently outlined an organic capital expenditure range of US$18–19 billion for 2026, with about US$7 billion allocated to global offshore developments. The company said spending will primarily support projects in Guyana, the Eastern Mediterranean and the Gulf of America. Within that offshore allocation, about US$0.4 billion in capitalized interest is tied to Guyana assets, reflecting the scale of its emerging investment footprint in the Stabroek Block.
