Continued focus by the US super major, ExxonMobil, on further developing oil production offshore Guyana is one of the priority pursuits of the company’s immediate-term investment plans, against the backdrop of its recent disclosure of plans to sustain capital expenditure levels of between US$30 billion and US$35 billion through to 2025.
The disclosure, which was made last week by Exxon Chairman and Chief Executive Officer, Darren Woods, strongly suggests that Guyana will be assured of high priority among ExxonMobil’s oil & gas recovery pursuits, at least for the next five years.
Exxon’s disclosure of its likely short to medium-term spending announced last week came notwithstanding the roughly 25 per cent fall in oil prices this year and comes against the backdrop of few other oil companies willing to commit to ramping up spending in the period ahead.
