20:52 - 31.07.2026

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July 31, Fineko/abc.az. A joint venture led by ExxonMobil has fully recovered its $55 billion investment in Guyana's offshore Stabroek block two years ahead of schedule. The milestone paves the way for the Guyanese government to receive a significantly higher share of oil revenues under the existing production sharing agreement.

Following the full cost recovery, profit oil will now be split equally (50/50) between the consortium and the government. Production at the offshore field already exceeds 900,000 barrels per day, driving Guyana's trajectory as one of the world's fastest-growing economies.

While ExxonMobil will report lower net equity production due to the adjusted cost-oil recovery cap, the company expects its cash flow from the asset to expand toward 2030.