Daily oil production hits 900,000 barrels in Guyana's Stabroek block

Georgetown, Guyana – ExxonMobil Guyana Limited and its Stabroek block co-venturers, Hess Guyana Exploration Limited, and CNOOC Petroleum Guyana Limited, today announced that they reached a new production milestone of 900,000 barrels of oil daily.

This achievement comes just months after the successful startup of Yellowtail, Guyana’s fourth offshore project, which has now achieved its initial annual average production capacity of 250,000 barrels of oil per day (bopd). This combined with excellent operating performance from Liza Phase 1, Liza Phase 2 and Payara assets are contributing to achieving this significant milestone.

The Stabroek co-venturers have committed more than US$60 billion to develop seven government-sanctioned projects on Guyana’s offshore Stabroek block including Uaru, Whiptail, and Hammerhead.

The Uaru and Whiptail projects, Guyana’s fifth and sixth projects, are each expected to produce approximately 250,000 bopd. The projects are expected to begin operations in 2026 and 2027, respectively.

Hammerhead, the seventh project, is expected to add approximately 150,000 bopd when production begins in 2029.

An eighth project, Longtail, is currently undergoing regulatory reviews. Once approved, ExxonMobil Guyana expects to have total production capacity of 1.7 million bopd from eight developments.

ExxonMobil affiliate ExxonMobil Guyana Limited is operator and holds 45% interest in the Stabroek block. Hess Guyana Exploration Ltd. holds 30% interest, and CNOOC Petroleum Guyana Limited holds 25% interest.

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Cautionary Statement

Statements of future events, results, expectations, or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, future capacities, production rates, and resource recoveries could differ materially due to: changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments including obtaining necessary regulatory permits; reservoir performance; the outcome of future exploration efforts; timely completion of development and construction projects; technical or operating factors; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com and under Item 1A. Risk Factors in our annual report on Form 10-K. References to “barrels of oil per day” and other quantities include estimated quantities that are not yet classified as proved reserves under SEC definitions but are expected to be ultimately recoverable. The term “project” can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.