The profit generated by the consortium of oil producers, including Exxon Mobil, Hess, and CNOOC, from their operations in Guyana surged by 64% last year, reaching $10.4 billion. This significant increase highlights the immense profitability of the Stabroek Block.
This financial performance underscores the strategic importance of Guyana as a cornerstone of ExxonMobil's upstream portfolio. The advantaged assets in the region are consistently delivering robust earnings and cash flow, contributing substantially to the company's overall results.
The strong profit growth from Guyana validates ExxonMobil's disciplined investment strategy in high-return projects. This continued success in a key growth area is crucial for the company's long-term financial health and its ability to provide competitive shareholder returns.
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