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Oil
We use our unique geoscience capabilities and understanding of the global hydrocarbon endowment to identify and prioritize quality resources.
Oil operations
Aiding mobility and modern products
Oil will continue to provide the largest share of the energy mix: essential for transportation and chemicals — supplying about 55 percent of the world’s energy needs through 2040.
ExxonMobil has a long history of research in the fundamental scientific and engineering principles required to develop oil and gas. Many conventional onshore oil fields are maturing. Meeting rising energy demand requires new production from less traditional resources, like oil sands. Most of the world’s remaining reserves are owned or controlled by national governments. Only a fraction of total global oil reserves are accessible for private sector investment, with most of these accessible reserves in Canada’s oil sands. Through the responsible development of its oil sands, Canada continues to play an increasingly important role in meeting rising global energy demand.
~95%
of current transportation energy needs are met by oil30% increase
in global energy demand for transportation projected by 2040Energy supply evolves to meet diverse demand
Global demand by fuel - quadrillion BTUs
Responsible development
Oil is a significant, secure energy resource and an engine for economic growth. ExxonMobil recognizes that with this opportunity comes significant responsibility — to maintain the strong balance between development and protection of the environment.
All articles about oil
ExxonMobil Guyana advances fifth offshore Guyana development
IRVING, Texas – ExxonMobil made a final investment decision for the Uaru development offshore Guyana after receiving required government and regulatory approvals. The company expects Uaru, the fifth project on Guyana’s offshore Stabroek block, to add approximately 250,000 barrels of daily capacity after a targeted startup in 2026.
News releases
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April 26, 2023
ExxonMobil makes two more discoveries offshore Guyana
IRVING, Texas – ExxonMobil has made two new discoveries offshore Guyana to the southeast of the Liza and Payara developments in the Stabroek block. The discoveries at Seabob and Kiru-Kiru are the sixth and seventh in Guyana this year, with the total number of discoveries in Guyana at more than 25.
News releases
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July 26, 2022
ExxonMobil makes three new discoveries offshore Guyana, increases Stabroek resource estimate to nearly 11 billion barrels
IRVING, Texas – ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels.
News releases
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April 26, 2022
ExxonMobil announces new discovery at Longtail-3 offshore Guyana
IRVING, Texas – ExxonMobil today said it made a discovery at Longtail-3 in the Stabroek Block offshore Guyana. Drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. The well is located approximately two miles (3.5 kilometers) south of the Longtail-1 well. It was drilled in more than 6,100 feet (1860 meters) of water by the Stena DrillMAX.
News releases
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June 9, 2021
ExxonMobil ups Guyana recoverable resources to more than 8 billion oil-equivalent barrels, makes discovery at Uaru
IRVING, Texas – ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil-equivalent barrels and made a further oil discovery northeast of the producing Liza field at the Uaru exploration well, the 16th discovery on the Stabroek Block.
News releases
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Jan. 27, 2020