– Looks forward to the startup of the 4th Guyana vessel next week
With its 45 per cent stake in Guyana’s Stabroek Block generating handsome returns, along with strong performance in other global assets, ExxonMobil registered impressive profits for the second quarter of 2025, totaling US$7.1 billion.
During its earnings call this morning, the company’s Vice President, Treasurer, and Head of Investor Relations, Jim Chapman said the company’s revenues were supported by “investments in high-return, advantaged opportunities,” such as those in Guyana.
Chapman noted that Exxon achieved record production at its projects in the U.S. Permian Basin, adding that these are on track to meet the company’s plans for this year. By 2030, he stated more than 60% of the company’s production volumes are expected to come from the Permian, Guyana, and LNG.
Regarding Guyana, Chapman told investors that May 2025 marked both the 10-year anniversary of the first discovery in Guyana and the arrival of the fourth Floating Production, Storage, and Offloading (FPSO) vessel. “The start-up of the Yellowtail development, our largest to date, is anticipated next week, and four more FPSOs are planned by the end of 2030, increasing our gross production capacity to 1.7 million oil-equivalent barrels per day,” said the Vice President.
He added, “Our organization continues to set new standards in executing major deepwater developments at an industry-leading pace and cost, benefiting our shareholders and the people of Guyana.”
Overall, Chapman said the company will continue to lead in cost discipline, reminding that this strategy has already saved US$13.5 billion.
