Ali says Guyana wants more value from its ExxonMobil oil contract
The president said the government will seek more from the deal and respect its duties, and Guyana's share of oil has grown.
President Ali said the government wants more value from its current Production Sharing Agreement with ExxonMobil. He said it will still respect the duties in the contract.
The Department of Public Information published his remarks on 22 October 2026. iNews Guyana published the same remarks that day.
Government figures show Guyana now gets about 39.8 barrels of every 100 barrels of Stabroek oil produced. The share has grown as cost recovery has fallen.
The American Prospect reported how ownership is split. ExxonMobil holds 45 per cent, Hess holds 30 per cent and CNOOC holds 25 per cent. It said Chevron bought Hess in July 2025.
ExxonMobil is still growing its work in the Stabroek Block. Kaieteur News reported that the company is pursuing at least two new projects there, its eighth and ninth.
Kaieteur News also reported that ExxonMobil Vice President John Ardill described a find in the middle of the block as a "big discovery". It said ExxonMobil is running appraisal activities and production tests to understand the new resource better.
The story was first reported by the Department of Public Information.