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Guyana Pays Exxon to Drill Even If Dry | Guyana News
Description
ExxonMobil is drilling at Rockhead-1 off Guyana’s coast, part of a high-stakes oil hunt in the Stabroek Block where they’ve already hit 46 oil discoveries. Using the massive drillship Stena Carron, this well is expected to finish by August 31, 2026 — but here’s the twist: Guyana’s footing the bill regardless of whether oil is found. Critics slam the deal, noting Guyana already paid Exxon $26.6 billion in 2025 alone, while other oil nations like Suriname don’t let companies recoup dry well costs. Worse, the government’s hiding exploration budgets and plans, even as oil revenues vanish into these expensive operations — and Exxon’s latest update? Just their financials from last year.
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