ExxonMobil Contracts Baker Hughes for Stabroek Block Projects in Guyana
February 8, 2025
Georgetown, Guyana – ExxonMobil has awarded a significant contract to Baker Hughes for work related to its Stabroek Block developments offshore Guyana. The agreement, which covers key oilfield services and equipment, marks a crucial step in the expansion of ExxonMobil’s operations in the country’s prolific oil sector.
Scope of the Contract
The deal includes the supply of subsea production equipment, well services, and other critical technologies aimed at supporting ExxonMobil’s ambitious production targets. Baker Hughes, a global leader in oilfield services, will play a central role in the development and optimization of deepwater oil extraction from the Stabroek Block, which has been at the forefront of Guyana’s oil boom.
Sources indicate that the contract covers multiple phases of development, including ExxonMobil’s upcoming projects within the block, where the company has already made more than 30 significant oil discoveries since 2015. Baker Hughes is expected to provide advanced subsea trees, manifolds, and other infrastructure necessary for efficient offshore production.
Boost for Guyana’s Oil Sector
ExxonMobil’s continued investment in the Stabroek Block has transformed Guyana into one of the fastest-growing oil producers in the world. The involvement of Baker Hughes further reinforces the country’s position as a key player in global energy markets.
The agreement aligns with ExxonMobil’s broader plans to ramp up production in Guyana, where it currently operates in partnership with Hess Corporation and CNOOC. Recent projections suggest that the Stabroek Block could produce more than 1.2 million barrels of oil per day by 2027.
Industry Reactions
Energy analysts view this contract as a strategic move to enhance operational efficiency and ensure long-term production sustainability. “Baker Hughes’ involvement signals ExxonMobil’s commitment to leveraging cutting-edge technology for deepwater operations,” said an industry expert.
Additionally, the collaboration is expected to create new opportunities for local employment and skills development, as international oilfield service companies expand their presence in Guyana.
Looking Ahead
With ExxonMobil accelerating its development projects, more contracts for offshore infrastructure and services are likely to follow. As Guyana continues to strengthen its oil sector, partnerships with global energy giants such as Baker Hughes will be instrumental in shaping the country’s economic future.
Stay tuned for further updates on Guyana’s oil and gas developments.