2024 Annual Report | ExxonMobil Guyana

Two ExxonMobil Guyana employees working on the Liza Destiny

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Overview

As Guyana enters a new chapter in its development journey, 2025 marks a moment of momentum and maturity in the country’s energy sector. With production rising, infrastructure expanding, and collaborations deepening, the nation is steadily transforming its natural resource wealth into long-term opportunity.

At the heart of this transformation is the continued success of offshore oil development. In partnership with the Government of Guyana, ExxonMobil Guyana Limited (EMGL) and its co-venturers, have brought three production vessels online—Destiny, Unity, and Prosperity—now producing some 650,000 barrels of oil per day.

Key takeaways

Gross production increased 58% year-over-year with the addition of the Prosperity FPSO, leading to increased profits for all stakeholders.
ExxonMobil Guyana and its Stabroek block co-venturers have made significant investments in Guyana since 1999 (collective US $55 billion commitment to date).
While ExxonMobil Guyana recorded an accounting profit last year, it is still operating “in the red” to the tune of about US $3.4 billion.
Guyana, on the other hand, has amassed more than US $6.2 billion from oil profit revenues and royalties since 2020 – with zero invested.
What’s more, Guyana’s annual profit oil payments are set to nearly quadruple to more than US $10 billion by the end of the decade.

Download the 2024 Annual Report

The Yellowtail project is expected to begin production later this year, with Uaru and Whiptail following in 2026 and 2027. Together, these six developments are projected to bring Guyana’s production capacity to approximately 1.3 million barrels per day.

In addition to these producing and upcoming projects, two other developments, Hammerhead and Longtail, are currently progressing through the regulatory review and approval process. These projects represent the next wave of investment and development potential in the Stabroek Block, further cementing EMGL’s role as Guyana’s essential energy partner.

But Guyana’s energy story is about more than oil. It’s about building a diversified, resilient energy future. The Gas-to-Energy (GTE) project is a key part of that vision. Designed to deliver cleaner, more affordable electricity to Guyanese homes and businesses, the project represents a major step toward energy security and economic diversification.

EMGL has completed its scope of the GTE project, including the construction of a 130-mile offshore pipeline that will transport natural gas from the Liza fields to the onshore site at Wales. With this infrastructure now in place, the project is poised for its next phase—completion of the government-led power generation and processing facilities. Once operational, GTE is expected to significantly reduce electricity costs and support new industrial growth.

This progress reflects a broader commitment: to ensure that energy development in Guyana is inclusive, responsible, and forward-looking. With over US$55 billion in projected investments and a growing portfolio of projects, the country is well-positioned to turn today’s momentum into tomorrow’s prosperity.

As this annual report reflects, Guyana’s energy sector is not just growing—it’s evolving. And with continued collaboration, innovation, and national leadership, the future looks brighter than ever.

Production

Liza Destiny = 157kbd
Liza Unity = 246kbd
Prosperity = 249kbd

4Q 2024 gross volumes:
~652 thousand barrels per day (kbd)

PROJECTED CAPACITY:
1.3 million bpd (barrels per day) by YE 2027
1.7 million bpd by 2030
Investments

Stabroek Block Coventurers - Hess, CNOOC & ExxonMobil Guyana (CoVs)- GY$11.5 trillion committed to develop 6 sanctioned projects.

GY$1.3 trillion into Guyana’s NRF

>GY$9 billion in community projects

GY$21 billion, 10-year CoV Greater Guyana Initiative investment
Local content

Guyanese currently make up 67% of the total oil-and-gas workforce

~1,700 Guyanese working offshore

53% of ExxonMobil Guyana’s national workforce is women

>2,000 unique local suppliers since 2015

>GY$525 billion: EMGL and Contractors spend with local suppliers since 2015
Exploration

>30 significant discoveries