ExxonMobil eyes ultra-deepwater Guyana discoveries near 3,000 metres as easy fields give way

Published: 2026-05-13 11:10:09 ET XOM

Published on 05/13/2026 at 11:10 am EDT

ExxonMobil is evaluating offshore discoveries in waters approaching 3,000 metres deep off Guyana as the company's development programme moves beyond the large standalone black oil projects that drove the first phase of Stabroek Block production, development manager Kyle Countryman said at the Offshore Technology Conference in Houston, OilNOW reported.

The shift marks a significant technical step up for a basin that has until now benefited from relatively benign shallow-water drilling conditions. 'If you look, we always do the easy stuff first,' Countryman said, while noting that none of the earlier deepwater developments had been straightforward.

The next phase centres on smaller accumulations that cannot support standalone floating production vessels and will instead need to be tied back to existing infrastructure. 'It's tied back opportunities that are smaller, that aren't standalone opportunities,' Countryman said, adding that ExxonMobil and co-venturers Hess and CNOOC are studying multiple development pathways. 'We have a lot of discovered, undeveloped resources that we're looking at ways to unlock.'

Discussions with the Guyana government on future development plans are ongoing. Guyana currently produces more than 900,000 bpd from four FPSOs in the Stabroek Block, with output targeted at 1.7mn bpd by the end of the decade.