ExxonMobil Guyana had a staggering revenue of over $1.1 trillion in 2023, according to their latest Annual Report.
Their pre-tax profit shot up to a whopping $752.7 billion, while their total operating expenditure came in at around $356.1 billion. After taxes, ExxonMobil Guyana’s net profit clocked in at a cool $614.599 billion. They also made a significant contribution to Guyana’s national treasury by paying over $21.9 billion in royalties to the government.
At a press briefing held in their Kingston office, Phil Rietema, the Vice President and Business Services Manager of ExxonMobil Guyana, highlighted the remarkable growth in production and revenue since the launch of the Prosperity Floating Production Storage and Offloading (FPSO) unit in November 2023. This new addition boosted gross production by 41% and total revenue by 26% compared to 2022, even with lower oil prices. In 2022, the company raked in $876.8 billion in revenue and a net profit of $577.712 billion.
Moreover, Rietema emphasized ExxonMobil’s ongoing commitment to Guyana, mentioning that they have invested over $3 trillion in their local operations. Alongside their partners, the total investments in the Stabroek Block have reached a staggering $6 trillion. Looking ahead, ExxonMobil plans to inject an additional $5 trillion into Guyana’s economy by 2027.
ExxonMobil Guyana has invested around $3 trillion in the Stabroek Block and $6 trillion with its partners. exploring and looking for more development opportunities,” Rietema also stated that the company will continue to explore more development opportunities locally.
ExxonMobil Guyana has also seen significant growth in their assets and equity, with assets increasing by 44% to $3.2 trillion, and equity surpassing $2 trillion. These figures demonstrate the company’s strong financial health and its ability to sustain and expand its operations.