Exxon accelerates oil, gas projects in Guyana amid high prices
By Kemol King
Published on March 19, 2026.
A new floating production facility for ExxonMobil in Guyana, being built by Japanese firm MODEC (6269.T), is expected to depart from Singapore soon. This move is part of the company's strategy to accelerate the startup of oil and gas projects in the country. The high crude prices are expected to help the company recover costs, which have led to higher production rates. Following the U.S. departure, Exxon aims to start the next project by the end of 2027 and aims to begin the seventh project by 2028.
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