ExxonMobil's Guyana Oil Expansion and Contract Concerns

ExxonMobil is advancing major oil production expansion in Guyana through its Stabroek Block operations, including deployment of the Errea Wittu FPSO to push output past 1 million barrels per day and drilling new exploration wells. Critics warn that the production sharing agreement lacks a ring-fencing clause, potentially costing Guyana billions in tax recovery as development costs are offset against earnings from producing fields.