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ExxonMobil is looking to expand its offshore exploration in Trinidad and Tobago, securing rights to a deepwater block that the company views as a possible geological extension of its successful operations in neighbouring Guyana. The exploration opportunity remains speculative, with drilling still some distance away and no discovery confirmed in the available report. The block, known as TTUD-1, covers approximately 7,165 square kilometres and lies in waters around 2,000 to 3,000 metres deep. Its size exceeds the combined land area of Trinidad and Tobago, while its depth presents substantial technical challenges for exploration. ExxonMobil's head of global exploration, John Ardill, recently told the Financial Times that the company sees Trinidad's geology as an extension of the geological setting behind its Guyana success. Exxon and its partners have discovered roughly 11 billion barrels of recoverable oil resources in Guyana, making that neighbouring country's offshore sector a major reference point for the company's Trinidad ambitions. The comparison does not establish that Trinidad contains equivalent resources. Exploration rights and promising geological characteristics are not proof of commercially recoverable oil, and the report makes clear that the outcome will depend on future drilling. Exxon reportedly negotiated its Trinidad production-sharing agreement in seven months. The company expects to select its first drilling location by mid-2027, with an initial exploration well potentially following in late 2027 or early 2028. Those milestones place the project in an early stage, before any results from a first well can establish the block's resource potential. Guyana provides the backdrop to the exploration strategy. Exxon made its landmark Liza discovery offshore Guyana in 2015 and has since participated in more than 30 discoveries there. According to the report, Guyana's oil production had reached approximately 900,000 barrels per day by late 2025. Exxon and its partners have committed more than US$60 billion to developing those offshore resources, with plans that could eventually raise production capacity to around 1.7 million barrels per day by 2030. The company also has substantial operations beyond the Trinidad prospect. The report says Exxon recorded US$14.5 billion in earnings in the second quarter of 2026, alongside US$23.6 billion in operating cash flow and US$17.2 billion in free cash flow. It also returned US$9.4 billion to shareholders during that quarter through dividends and share repurchases. These figures provide financial context for the exploration effort, but they do not guarantee success in Trinidad. A disappointing well would leave the company with its existing operations, while a discovery would still require further evaluation before any potential development could proceed. For Trinidad and Tobago, the immediate development to watch is whether Exxon advances from exploration rights to a selected drilling site and then a completed well. Until drilling provides evidence, the prospect remains a potential opportunity rather than a confirmed addition to the country's oil resources.
ExxonMobil is looking to expand its offshore exploration in Trinidad and Tobago, securing rights to a deepwater block that the company views as a possible geological extension of its successful operations in neighbouring Guyana. The exploration opportunity remains speculative, with drilling still some distance away and no discovery confirmed in the available report.
The block, known as TTUD-1, covers approximately 7,165 square kilometres and lies in waters around 2,000 to 3,000 metres deep. Its size exceeds the combined land area of Trinidad and Tobago, while its depth presents substantial technical challenges for exploration.
ExxonMobil’s head of global exploration, John Ardill, recently told the Financial Times that the company sees Trinidad’s geology as an extension of the geological setting behind its Guyana success. Exxon and its partners have discovered roughly 11 billion barrels of recoverable oil resources in Guyana, making that neighbouring country’s offshore sector a major reference point for the company’s Trinidad ambitions.
The comparison does not establish that Trinidad contains equivalent resources. Exploration rights and promising geological characteristics are not proof of commercially recoverable oil, and the report makes clear that the outcome will depend on future drilling.
Exxon reportedly negotiated its Trinidad production-sharing agreement in seven months. The company expects to select its first drilling location by mid-2027, with an initial exploration well potentially following in late 2027 or early 2028. Those milestones place the project in an early stage, before any results from a first well can establish the block’s resource potential.
Guyana provides the backdrop to the exploration strategy. Exxon made its landmark Liza discovery offshore Guyana in 2015 and has since participated in more than 30 discoveries there. According to the report, Guyana’s oil production had reached approximately 900,000 barrels per day by late 2025. Exxon and its partners have committed more than US$60 billion to developing those offshore resources, with plans that could eventually raise production capacity to around 1.7 million barrels per day by 2030.
The company also has substantial operations beyond the Trinidad prospect. The report says Exxon recorded US$14.5 billion in earnings in the second quarter of 2026, alongside US$23.6 billion in operating cash flow and US$17.2 billion in free cash flow. It also returned US$9.4 billion to shareholders during that quarter through dividends and share repurchases.
These figures provide financial context for the exploration effort, but they do not guarantee success in Trinidad. A disappointing well would leave the company with its existing operations, while a discovery would still require further evaluation before any potential development could proceed.
For Trinidad and Tobago, the immediate development to watch is whether Exxon advances from exploration rights to a selected drilling site and then a completed well. Until drilling provides evidence, the prospect remains a potential opportunity rather than a confirmed addition to the country’s oil resources.
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