Guyana oil share rises to 39.8% as ExxonMobil recovers investments

Guyana’s share of oil production from the Stabroek block has increased to 39.8%, according to President Irfaan Ali. This rise follows the ExxonMobil-led consortium recovering approximately US$55 billion in investments made since 2014, reaching this milestone roughly two years ahead of schedule.

Under the existing contract, the operators can claim up to 75% of production as cost oil. As the cost bank has been largely drawn down, the amount allocated to operators has fallen to roughly a quarter of output, causing the profit oil split to shift in favor of the Guyanese government. This new figure includes the 2% royalty.

Production capacity is accelerating significantly. While it took nearly 60 months to reach the first half-billion barrels produced since December 2019, the second half-billion barrels were extracted in just 18 months between December 2024 and July 2026. Current daily production is approaching 1 million barrels.

The Stabroek block is operated by ExxonMobil (45%), Hess/Chevron (30%), and CNOOC (25%). A fifth production vessel, the Errea Wittu, is expected to arrive shortly to support the Uaru project, with first oil targeted for the fourth quarter.