United States Ambassador to Guyana, Nicole Theriot, has said that Guyanese citizens are already seeing tangible benefits from the country’s oil boom, pointing to community projects, corporate sponsorships, and training initiatives funded by ExxonMobil Guyana Limited.
Theriot made the remarks during an appearance on SOURCES with journalist Svetlana Marshall, where she was asked whether Guyana is receiving a fair return under the 2016 Production Sharing Agreement signed with ExxonMobil for the Stabroek Block. While she noted she is not positioned to assess the contract itself, she said the overall impact has been positive for both countries.
Referencing a recent visit to Region One that included stops in Mabaruma, Shell Beach, and Imbotero, Theriot said ExxonMobil-supported community projects were visible throughout the region.
She also highlighted a recently signed agreement worth U.S. $100 million to support Science, Technology, Engineering and Mathematics education over the next decade, as well as ExxonMobil’s sponsorship of the Guyana Amazon Warriors in the Caribbean Premier League.
Theriot further pointed to the Guyana Technical Training Centre in Berbice, which ExxonMobil helped build and which houses one of only eleven Floating Production Storage and Operating simulator facilities in the world. She noted the centre will also provide training for other sectors beyond oil and gas.
On the question of revenues, the Ambassador acknowledged that ExxonMobil is still in the cost recovery phase but said that phase is expected to conclude in the near future, after which the government will see a significant increase in oil revenues.
The Stabroek Block is estimated to hold approximately 11.6 billion barrels of oil. Production began in December 2019, and the consortium, comprising ExxonMobil, Hess, and CNOOC, is currently producing close to one million barrels per day across four active projects. Under the agreement, ExxonMobil can recover up to 75 percent of monthly production as costs, with the remaining 25 percent split equally between the company and the government, alongside a two percent royalty.
SOURCE: Kaieteur News, “Guyana benefitting from oil boom through Exxon’s community investments and cricket sponsorship,” April 1, 2026
