ExxonMobil expects additional offshore developments in Guyana as work continues to assess remaining areas of the Stabroek Block.
The update came during the company’s first quarter 2026 earnings call, where Chief Executive Officer Darren Woods addressed questions on future resource expansion. Woods told analysts, “There’s still a lot of acreage left to be assessed, and so I think the opportunity there is significant.”
ExxonMobil operates the Stabroek Block with a 45% interest, alongside partners Hess Corporation and CNOOC Limited. Four projects are currently producing offshore Guyana: Liza 1, Liza 2, Payara and Yellowtail.
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Additional developments are under construction, including Uaru, Whiptail and Hammerhead, as the company continues a phased approach to bringing discovered resources into production.
Woods told analysts more projects are expected as work advances across the block. He indicated that returns across the acreage are guiding development decisions.
Woods said, “The team is very engaged in working with developing the resources across the block, very focused on developing projects that generate returns across the entire resource space.”
Just recently, ExxonMobil awarded the Noble Developer a one-well contract at a day rate of US$375,000 to drill a shallow water prospect in the Stabroek Block, with operations scheduled to begin in early 2027. The vessel joined other Noble and Stena rigs, which have been engaged in exploration, appraisal and development drilling in the block for years.
