Chevron ready to support Guyana’s transformative energy journey – CEO reaffirms

Following its US$53 billion acquisition of Hess Corporation, which gave it a 30 per cent stake in Guyana’s prolific Stabroek Block, Chevron says it brings “deep offshore experience” to support the country’s transformative energy journey.
The Chief Executive Officer (CEO) of Chevron, Mike Wirth, says that in just a few years, Guyana has experienced an extraordinary rise, becoming a major source of new oil discoveries and one of the world’s fastest-growing economies.
He made the remarks via a LinkedIn post on Tuesday, reflecting on his participation at the Guyana Energy Conference in Georgetown last month.
Wirth noted that “Chevron is proud to now be part of that journey, bringing deep offshore experience and a long-term commitment built on partnership. In today’s complex global energy system, no country or company can do it alone.”
He said progress depends on collaboration between Governments, industry, and communities, working together to deliver energy that supports prosperity, energy security, and responsible development.
“As global energy demand continues to grow, Guyana has an opportunity to demonstrate how energy abundance can help lift a nation, reduce energy poverty, and create opportunity not for a few but for all. Chevron is honoured to partner with Guyana, and we’re excited about what the future holds for the country, the region, and the world,” he added.
Chevron completed its US$53 billion acquisition of Hess in July 2025, securing a 30 per cent stake in Guyana’s prolific Stabroek Block, which holds more than 11 billion barrels of discovered recoverable resources.
Output has already reached roughly 900,000 barrels per day, and this is expected to climb to 1.7 million barrels of oil per day by 2030. ExxonMobil affiliate ExxonMobil Guyana Limited is the operator and holds a 45 per cent interest in the Stabroek Block, while the China National Offshore Oil Corporation (CNOOC) holds a 25 per cent interest.
Back in December 2025, Chevron Corporation’s announced 2026 capital programme puts fresh emphasis on Guyana, underscoring the company’s deepening stake in one of the world’s most prolific oil basins, following its acquisition of Hess Corporation.
The company unveiled an organic capex range of US$18-19 billion for 2026. While the overall figures mirror previous guidance, the details reveal how central Guyana has become to Chevron’s global upstream strategy.
Chevron said global offshore spending will total about US$7 billion in 2026, and that this allocation will “primarily” support development in Guyana, the Eastern Mediterranean, and the Gulf of Mexico.
Within that offshore envelope, the company disclosed that about US$0.4 billion in capitalised interest is tied to Guyana assets, a rare indication of the scale and importance of its investment footprint in the Stabroek Block.