‘Exxon’s exploration costs could eat into Guyana’s oil profits’

(Kaieteur News) – ExxonMobil Guyana Limited (EMGL) has embarked on an extensive exploration campaign in the Stabroek Block, offshore Guyana, but the costs associated with these activities, which Guyana could ultimately be required to bear through cost recovery, remain largely undisclosed, as the Government continues to withhold critical information from parliamentary scrutiny.

Member of Parliament (MP) Sharma Solomon who sits on the Opposition side of the House recently flagged the lack of transparency in Exxon’s operations, compelling Guyanese that the situation must concern each citizen as the oil country’s profits will be affected in the process.

Full coverageSharma Solomon Challenges Government Over Guyana’s Oil Wealth and Cost of Living4 reports

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Solomon cited the recent permit obtained by ExxonMobil for a new exploration well at the Jacunda-1 site as reported on Friday by Kaieteur News. The permit, issued on September 23, 2026, authorised the twenty-second well under the company’s 35-well exploration programme and remains valid for five years.