Press Release: MNR welcomes commitment to partnership by ExxonMobil, Chevron

The Ministry of Natural Resources welcomes the commitment to partnership on Guyana’s development by ExxonMobil and Chevron. 

Speaking at the fifth edition of the Guyana Energy Conference and Supply Chain Expo being held at the Marriott Hotel, Georgetown, the companies affirmed their support for the responsible harnessing of Guyana’s oil and gas resources for the benefit of current and future generations.

President of ExxonMobil Guyana, Alistair Routledge underscored the company’s commitment to advancing local content. He said the company has spent US$3.6 billion to date on the employment of Guyanese as well as the procurement of services from local businesses. 

The ministry also acknowledged remarks by Chevron’s Chief Executive Officer, Mike Wirth, affirming the company’s commitment to partnering with Guyana in its continued development. The ministry, therefore, looks forward to strengthening this relationship as project development progresses in the Stabroek Block of which Chevron is a 30 percent shareholder. 

Minister of Natural Resources, Hon. Vickram Bharrat noted that from 2020 to 2025, Guyana was able to move oil production from 120,000 bpd to over 900,000 bpd, a testament to how transformative partnerships can be. 

“This momentum is expected to deliver more benefits for Guyana in the coming years, cementing our country’s global positioning as a premier producer of low-cost, low-emission resources,” the minister said. 

In tandem with this pace of production, Minister Bharrat said Guyana retains respect on the global stage for a well‑managed oil and gas sector that is supported by robust laws governing local content, revenue expenditure and environmental sustainability. 

Regarding the conference, Minister Bharrat praised organisers of the event as well as industry leaders and stakeholders for their contributions to discussions on Guyana’s energy trajectory. Key topics discussed included: Building a sustainable local content ecosystem, developing a downstream sector in Guyana, attaining regional energy security, and deploying climate finance in practice: Guyana’s experience across energy, forests and resilience. 

The Ministry of Natural Resources acknowledges the depth and importance of these discussions and the practical insights they generate to support Guyana’s responsible energy sector development.

As the four-day conference comes to an end, the ministry underscores its commitment to working collaboratively with all stakeholders to ensure the country’s natural resources deliver inclusive and sustainable benefits for its people and the wider region.