Guyana: ExxonMobil targets US$10B from Stabroek Block by 2025

EXXON-Mobil Drillship

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  • brandli62  On December 4, 2019 at 3:56 am

    The proven Guyanese oil reserves are at 6 billion barrels in 2017 (see https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves). I believe that the Guyanese oil reserves are now probably above 10 billion barrels given that the recent finds of Tullow.

    Based on the report above, Exxon is planning to pump optimistically around 250’000-280’000 barrels per day by 2025. That would amount to about 100 million barrels per year. Hence, there would be sufficient oil of the Guyanese shores for the next 100 years. Exxon expects $2-3 billion in annual profits by 2025 from its oil fields in Guyana.

    What the share of profits going to the Guyanese government and people?

  • Trevor  On December 4, 2019 at 12:11 pm

    50-50 profit sharing after expenses, but 75% cost recovery on investment, whatever that means.

    It’s estimated that 12.5% of gross profit is certain, in addition to the 2% oil royalty based on Brent sale price.

    • brandli62  On December 5, 2019 at 4:43 pm

      Is that a typical deal that countries without any oil infrastructure can expect?

      • Trevor  On December 6, 2019 at 5:54 pm

        Yes, because of the border dispute with the more aggressive Venezuela.

  • Trevor  On December 4, 2019 at 12:12 pm

    Exxon is planning 750,000 to 1,000,000 bbl daily by 2025. 250,000 by 2023. Watch our GDP skyrocket!

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