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ExxonMobil recovers US$55 billion in Stabroek Block costs
ExxonMobil has announced that it has fully recovered US$55 billion in capital and operating costs for the Stabroek Block in Guyana. This milestone marks a significant shift in the economic landscape of the region. Under the 2016 Production Sharing Agreement, Exxon recovers costs from up to 75% of monthly production. With these legacy costs now largely cleared, Guyana’s effective share of total production has risen to approximately 39.8%, up from 12.5% during peak cost-recovery years.
However, the milestone is not a permanent shift to higher profit shares. Exxon has committed over US$60 billion to seven sanctioned projects, including upcoming developments like Uaru, Whiptail, and Hammerhead. New investments will refill the cost bank, allowing Exxon to once again recover costs at the 75% cap, which would reduce Guyana’s share back toward 12.5% until those new costs are recouped.
Discrepancies have been noted regarding the official reporting of these figures. While Exxon reported the US$55 billion recovery during its Q2 2026 investor call, the Guyana Ministry of Finance’s 2026 Mid-Year Report does not explicitly confirm this specific figure or provide a project-by-project breakdown. Meanwhile, ExxonMobil continues exploration activities, including drilling at the Liza Two site, which currently produces about 255,000 barrels of oil per day.
Entities
Bank of Guyana · Exxon · ExxonMobil · Guyana · Ministry of Finance · Neil Hansen · Stabroek Block
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The Ministry of Finance’s 2026 Mid-Year Report does not confirm the US$55 billion cost-recovery figure. haitigazette.com · stvincenttribune.com · trinidadtribune.com
- [● 3 SOURCES] Crude oil averaged US$92.50 per barrel in the first half of 2026. haitigazette.com · stvincenttribune.com · trinidadtribune.com
- [● 4 SOURCES] Exxon stated that US$55 billion in capital and operating costs have been recovered for the Stabroek Block. haitigazette.com · stvincenttribune.com · trinidadtribune.com · villagevoicenews.com
- [● 3 SOURCES] Exxon did not provide a project-by-project breakdown of the recovered costs. haitigazette.com · stvincenttribune.com · trinidadtribune.com
- [● 3 SOURCES] Guyana produced 163.3 million barrels of oil in the first half of 2026. haitigazette.com · stvincenttribune.com · trinidadtribune.com
- [○ 1 SOURCE] Guyana’s share of production has climbed to 39.8%. villagevoicenews.com