Guyana packs a punch for ExxonMobil
Achieving early production at the Liza project is only the first step in the US major’s ambitious strategy
A well-known adage goes that lightning never strikes the same place twice. For ExxonMobil, exploration efforts in Guyanese waters over the past five years have resoundingly disproved the maxim, turning the Latin American country into a regional oil producer for the first time. Few companies can match ExxonMobil’s recent upstream successes. The Stabroek block alone has yielded 18 major oil discoveries since it was first drilled in 2015. And the early startup at the Liza project has been US major’s crowning achievement, laying the groundwork for more discoveries to be developed over the next five years. Last year, phase one at Liza was awarded Petroleum Economist Energy Project of the Year for
Also in this section
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award; this is no easy task but it can be done thanks to an international legal framework under the New York Convention.
1 August 2025
Europe’s refining sector is desperately trying to adapt to a shifting global energy landscape and nowhere is this more apparent than in its largest economy
1 August 2025
The Middle East natural gas playbook is being rewritten. The fuel source offers the region a pathway to a cleaner, sustainable and affordable means of local power, to fasttrack economic development and as a lucrative opportunity to better monetise its energy resources.
31 July 2025
TotalEnergies is an outlier among other majors for remaining committed to low-carbon investments while continuing to replenish and expand its ample oil and gas portfolio, with an appetite for high risk/high return projects.
