Exxon oil drilling in

Guyana
Table of Contents
1) Introduction .......................................................................................................................................... 2
2) External factors in continuity of Exxon drilling of oil in Guyana ........................................................... 2
2.1) PESTEL Analysis .................................................................................................................................. 2
2.1.1) Political factors ........................................................................................................................... 2
2.1.2) Economic factors ........................................................................................................................ 3
2.1.3) Social factors ................................................................................................................................... 3
2.1.4) Technological factors .................................................................................................................. 3
2.1.5) Legal factors ................................................................................................................................ 4
2.1.6) Environmental factors .................................................................................................................... 4
3) Benefits of Exxon drilling in Guyana - Stakeholder analysis ................................................................. 5
3.1) The Government ................................................................................................................................ 5
3.2) Contractors (ExxonMobil) .................................................................................................................. 5
3.3) The local community (People of Guyana) .......................................................................................... 5
4) Potential benefits of Exxon oil drilling: ................................................................................................. 6
5) Potential disadvantages of Exxon oil drilling ........................................................................................ 7
6) Project lifecycle model for Exxon oil drilling in Guyana ........................................................................ 7
7) Strength and Weaknesses of the oil drilling in Guyana ........................................................................ 9
8) Success criteria of this project ............................................................................................................ 10
9) Quality Management Issues that would affect the Project Outcome ................................................ 11
9.1) Lack of Project Quality Management system .................................................................................. 11
9.2) Non Compliance with quality standards .......................................................................................... 11
9.3) Ignoring Project Quality Audits ........................................................................................................ 11
10) Reference ........................................................................................................................................ 12
 1) Introduction
Energy is the most important part of our life. Every part of our life severely depends on the
energy produced from various sources. Energy is usually obtained from fossil fuels, nuclear
fission and many renewable energy sources. According to an article written in Forbes by Mr.
Rapier major chunk of energy is obtained from fossil fuels which estimates up to 84% of the
total energy consumption of the world and oil constitutes the total of 33% share of energy
consumption in the world (Robert Rapier, 2020). World is looking towards greener and
renewable sources of energy and for this reason Paris Agreement has a special place as it is the
only legally binding climate change accord which was approved in Paris climate conference in
Dec, 2015 (European union website, Paris agreement). Almost every country in the world has
signed the Paris Agreement to reduce the carbon foot print in the world.
Despite this most of world is still running on oil and this includes manufacturing industry,
vehicles, sports and almost in every field of life their major portion of consumption of energy
comes from oil burning. As a result of this demand many companies produce oil from different
parts of the world. According to an article written on visual capitalist by Govinda Bhutada Saudi
Aramco, Exxon Mobile, Chevron and Shell are top four most oil producing companies in the
world (Govinda Bhutada, 2021).
Exxon Mobil drilling operations for fossil fuels (Oil, Gas etc.) are spread all over the world.
Exxon started taking interest in Guyana oil rich Atlantic Ocean in 2008 gathering and gauging
substantial 3-D seismic data that led to the company safely drilling its first exploration well in
2015, Liza-1 (ExxonMobil, 2020). According to an article written on Drilling Contractor Exxon
kept on exploring the area and right now there are total of 8 rigs working in the waters of
Guyana. Total no of rigs that were working there in 2020 were five and Exxon added three more
drilling rigs to boost their production of oil (IADC, 2021).

2) External factors in continuity of Exxon drilling of oil in Guyana

2.1) PESTEL Analysis
2.1.1) Political factors
Political situation in Guyana is extremely volatile and this directly affect the oil production
contracts done by Exxon with the previous governments. Newly contested elections in Guyana
on 02nd March, 2020 started a series of conflicts and political instability that led to interference
of United States to resolve the issue democratically through the parliament. New president has
sworn in and will bring a new team. Guyana’s government has claimed that it has only made 309
million USD till date since the project began while Exxon and its partners made 1.8 billion USD
(The Guardian, 2021). This is staggering difference and will ultimately force Guyana’s to
renegotiate the terms of the agreement and profit sharing formula. This could result in the delay
of the production of oil by Exxon.
2.1.2) Economic factors
According to an article written by Mathew Smith for oil price he states that Exxon posted a 22
billion dollar USD loss in 2020 (Mathew smith, 2021). This was the worst performing year for
Exxon in 40 years mainly because of COVID pandemic in 2020 which resulted in clear dipping
of oil market value as low as 30 dollars per barrel. In mid-2020 some analysts even start claiming
that Exxon is barely servicing its debt instead of making profit for its investors (Mathew smith,
2021). On the other hand, Guyana is an extremely poor country where government is just
changed after a yearlong conflict and they are also complaining about making bear minimum
profits since the start of this deal. All these economic factors could result in delayed or complete
suspension of project.

2.1.3) Social factors

Vincent Adams in the article written in the Guardian on Aug, 2021 states that Exxon is trying to
save its money by spending less on essential safety measures for the workers and plants. This
method of cutting corners could be disastrous. He says that Exxon “has no respect for the
people’s health, safety and environment”. Labor rights are nowhere to be seen in Guyana as it is
a poverty stricken country with 36.1% population residing below the poverty line and 18%
below the extreme poverty line (Oumaima Jaayfer, 2020). This benefits the Exxon but puts the
people of Guyana at serious risk because companies like Exxon would take advantage of the
situation by using low cost labor by paying minimum wage.
Benefit of this situation is that poor people of Guyana now have a work place where they can
earn decent salary to pay for them and their family to have a better life and get themselves out of
poverty.
2.1.4) Technological factors
According to data published by Ian Tiseo Exxon released 120 million metric tons of CO2 into
the atmosphere less than by 4 million metric tons as compared to last year (Ian Tiseo, 2021). As
per Paris agreement Exxon will reduce the carbon foot print by inventing new and better
technologies for extraction of oil from earth. Exxon is also working on using advanced digital
technologies such as artificial intelligence and ML (Machine learning) to make operations more
effective. This is a first step in moving towards closed-loop automation in which system
automatically detects and respond to events without human intervention by using artificial
intelligence (Exxon, 2019).
Exxon also developed autonomous drilling in deep water. They developed a exclusive drilling
advisory system, currently being used in our Guyana operations, that leverages AI (Artificial
intelligence) to determine the ideal factors/parameters for drilling (Exxon, 2019). This
development and implementation of modern technology not only will increase the production
rate but will also be helpful in reducing carbon foot print and safety related incidents.
2.1.5) Legal factors
When project is spread on such a larger scale with climate activists and Paris Agreement
looming around to reduce carbon foot print in the world, this could create a legal crisis for Exxon
which may affect the speed and termination of the project. According to the article written by
Cate Bonacini in CIEL (Center For Intelligence Environmental Law) Melinda Janki says that
“Guyana’s petroleum production is a potential 3.87 Giga ton carbon bomb. This puts Guyana at
the forefront of the fight to save the planet from oil and gas.” (Cate Bonacini, 2021).
Guyana’s former environmental chief Vincent Adams says that “Exxon is only going to be here
for 20 to 25 year. When they make all their billions, and they’re ready to pack up and they’re
gone, we’ve got to deal with the mess” (The Guardian, 2021). All these factors could seriously
hurt the growth of the project as well as the production rate.

2.1.6) Environmental factors

International energy agency has directed all the countries in the world to abide by France
Agreement and must achieve zero carbon foot print by 2050 (IEA at COP26, 2021). Thus IEA
has directed every signatory of Paris Agreement to immediately halt approvals of new oil and
gas projects to keep warming below 1.5°C (Cate Bonancini, 2021). In an article written in The
Guardian “Exxon’s oil drilling gamble off Guyana’s coast poses major environmental risk”
Exxon will release 2 billion metric tons of CO2 in atmosphere as a result of completion of this
project. This doesn’t adhere to Paris Agreement policy. All the environmental activists and even
the shareholder and investors of Exxon are also speaking against this project (The Guardian,
2021).
There is another side to this story as well. Robert Bea is one of the most leading expert and
forensic engineer in the world. He was the lead forensic engineer on the BP oil spill that
happened in Gulf of Mexico. He did a thorough analysis of Exxon’s operations in Guyana and
stated on record that they are not ready and prepared for deep water blowout and major oil spill.
Security systems in place are merely theoretical and far from practical application. Robert Bea is
a world leading safety and disaster investigator. He clearly stated on record that “There are loose
ends and most of things are assumed and premises are not substantiated in Exxon’s plans, and
the more of these threads that you pull at, the more anxious you become that what’s being done
here is shallow.” (The Guardian, 2021)
Moreover, the government of Guyana is not prepared to handle any mishap as they don’t have
resources neither they do have expertise to handle any mishap or to counter check anything that
is given to them by Exxon’s.
These are very major concerns that are shown by the expert, shareholder, investors and IEA
agency. This could seriously impact the project and may ultimately lead to its closure or
suspension thus causing huge loss to Exxon.
 3) Benefits of Exxon drilling in Guyana - Stakeholder analysis
Stakeholders of Exxon drilling project in Guyana are classified in three groups.
1. The Government
2. Contractors (ExxonMobil)
3. The local community (People of Guyana)

3.1) The Government

Guyana is one of the poorest countries in the world but with the discovery of 9 billion barrel of
oil reserve of the coast of Guyana, it is going to become one of the leading growing economies in
the world in the post COVID era. World bank has estimated Guyana’s total GDP to be 3.9 billion
USD in 2018 which is going to grow more in post COVID era as crude oil price sky rocketed to
85 dollars per barrel. This will bring in huge amount of money for the government to spend on
its citizens and lift them up from poverty like KSA, Dubai and other middle eastern countries.
(Andrew Fawthrop, 2020)

3.2) Contractors (ExxonMobil)

ExxonMobil are the contractors that will be drilling in the coasts of Guyana. They have struck a
lucrative deal with Guyana’s govt. regarding drilling in its shores. This will bring in huge profits
for Exxon and help it revive from the major losses that Exxon incurred during COVID pandemic.
In 1999, Exxon and Shell signed an agreement with the government of Guyana for overseas
exploration. Shell drawn out of the agreement in 2012. As a result of this ExxonMobil brought in
Hess & CNOOC’s Nexen as partners in the 6.6 mill acre Stabroek Block in Guyana. In May
2015, the Liza-1 exploration well in Guyana discovered the reserves of 800 MMboe and 1.4
Bboe. Based on these results Exxon performed the seismic survey and found 9-billion-barrel oil
reserves. This will put Exxon as one of the leading oil producers in the world after Saudi
Aramco. (Ron Bitto, 2019)

3.3) The local community (People of Guyana)

This mammoth deal is expected to surge Guyana’s GDP (Gross domestic product) from 3.4
billion USD to 13 billion USD during the time period of 2016 to 2025.

This will happen because Guyana is considered as one of the most poorest countries in the world
because 36.1% of population lives below the poverty line and out of those 36.1% almost 18%
percent lives below the extreme poverty line (Oumaima Jaayfer, 2020. Guyana will also receive
half of the review generated by selling the oil with in its own territory once all the company
exploration cost are repaid.

There are almost 800,000 people live below the poverty line. This discovery of 9 billion barrel of
oil reserves will kick off a so many new economic activities. Some of them are included as
under:
 1- Local labor will be hired for most of drilling processes.

2- Skilled labor will be developed by working in close collaboration with ExxonMobil

drilling experts.

3- Prices of locally produced items will be extremely low, thus it will be easy for the local
people to buy items. This will ultimately eliminate poverty.

4- Inflation rate will be extremely low, people buying power will increase and thus their
economic condition will improve

These oil reserves could change the fate of the people of Guyana. Govt. must put in place strong
measures so that the profit earned from the oil extractions doesn’t go in the accounts of corrupt
people.

4) Potential benefits of Exxon oil drilling:

There are several potential benefits that will change the fate of the people of Guyana. Some of
them are stated as under:
1- Oil refineries will be established. This will bring in billions of dollars of foreign
investments.

2- Oil prices will be extremely low in local market; this will attract all the major investors in
the world to invest in different areas.

3- With local labor so cheap people and oil prices so low investors will bring their
manufacturing industry from every part of the world like China and India.

4- Electricity produced will be of extremely low cost because of low fuel prices.

5- Guyana has a huge coastal belt. If government take smart decisions and make ports at the
costal belt, then this will increase trade with the world making it a trade hub. This will
hugely benefit the govt. as they will earn millions of dollars in the form of taxes.

6- If government take smart decisions, then they can turn Guyana into Dubai but better as
there are large number of historical sites and beautiful places in Guyana. Construction
industry will boom

7- With so much happening tourism in Guyana will increase and new economic activity will
be started.

Best examples of executing the oil drilling project is the Manifa project of carried out Saudi
Aramco in the east coast of Saudi Arabia. In order to avoid causing any damage to marine
life, engineers of Saudi Aramco devised a new operation which has never seen before.
 Instead of creating multiple offshore platforms in the ocean they converted 70% of the oil
field into an onshore field. They did this by make small Islands (27) in the ocean by using
sand. These islands (almost the size of a football stadium) would act as an onshore drill sites
for the offshore oil field. This was the best example to protect marine ecosystem and that’s
why critiques and environmentalist all over the world praise Saudi Aramco for this. (Manifa
Project, Aramco website)

5) Potential disadvantages of Exxon oil drilling

There could be several potential disadvantages. Some are bound to happen and some can be
avoided by smart decisions. They are stated as under:
➢ As a result of drilling in the Atlantic Ocean of Guyana Exxon will release 2 billion metric
tons of CO2 in the atmosphere. This could be a huge catastrophe as the climate is already
getting warmer and warmer with every passing year. This will also be a direct violation
of Paris Agreement (Andy Rowell, 2021)
➢ With so much coming in because of this project Guyana must setup a clear and
independent body this is transparent in every way. All the money transactions from this
project must be made public for transparency.
➢ Drilling in Atlantic Ocean may disrupt marine ecosystem. Seismic techniques could harm
the fish and mammals in the ocean. Any oil spill will kill almost everything in range (The
Guardian, 2021)
➢ Exxon has been sued by Melinda Janki because 80% Guyana’s land is covered by rich
rain forest and all the CO2 released by drilling would be absorbed by those trees thus
creating a large CO2 sink thus damaging the natural functionality of plants (The
Guardian, 2021)
A good example of not properly using safety measures before executing a drilling of a certain
well from the rig is the Usumacinta disaster in the Gulf of Mexico in 2007 which was caused by
the collision between the rig and the platform. There were high speed storms in the area and rig
anchor points were not properly secured and safety team didn’t spot this problem. This resulted
in the death of 22 workers and large oil spill (Mathew Farmer, 2021)

6) Project lifecycle model for Exxon oil drilling in Guyana

The most suitable type of project that could be used for Exxon oil drilling in Guyana is
Adaptive/Agile lifecycle.
I have chosen adaptive lifecycle as it meets the basic requirements that Is needed to execute all
five phases for oil and gas project.
Oil and gas project lifecycle generally consists of five phases. Those phases are stated as under:
➢ Exploration phase
➢ Appraisal phase
➢ Development phase
➢ Production phase
➢ Decommissioning phase
First of all, in adaptive model is to prepare a high level plan for the 100% scope of the
project. After the formation of plan and setting the target and scope of the project a regional
petroleum system analysis is done in which identification is done of overlooked geological
territories with hydrocarbon potential. Seismic surveys of the area are done. If results are
positive then project manager determines the geo political, operational and financial cost in
the operating area. Then licensing

Using all of this information, the operator assesses the geopolitical, operational, and
financial viability of operating in the territory. The right to explore these areas is then secured
through licenses with host governments.

After the completion of all the stages in planning phase a company performs Environmental
and SIP (Social Impact Assessment) in order to evaluate the social and environmental
repercussions of drilling.

Now the execution phase starts in which drilling of the wells is done to assess the amount of
reservoir, quality of fuel and commercial benefits. After the completion of this phase
development phase begins in which development plan is made and shared with relevant
country authorities, long term environmental risk assessments are done, material is procured
and established. After the completion of this phase test run is conducted in order to recheck
all the working standards and stability of the system. After this production is started and
gradually increased so that system and whole setup doesn’t get unstable (Jerome Rowley,
2013)

Best example of adaptive oil drilling project is Manifa project developed by Saudi Aramco in
2008. Originally oil was discovered in Manifa in 1957 and production of oil started in 1964
but this production was stopped in 1984 due to global economic crisis.

In 1980’s there wasn’t much stress on climate and environmental issues. Marine ecosystems
were also not the priority but when Saudi Aramco started working on the redevelopment
phase in Manifa in 2006, they decide to build small islands over the ocean. These islands
(almost the size of a football stadium) would act as an onshore drill sites for the offshore oil
field. Saudi Aramco adapted to changing conditions and worked around by excellent
planning and execution. All the design studies were completed till 2007 after that
development phase started in which complete islands were built with onshore oil rigs until
2010. Manifa was a two phase project. Production in one phase started in 2013 and in second
phase in 2017 (NS Energy website)
 7) Strength and Weaknesses of the oil drilling in Guyana
Exxon discovered 8 billion barrels of oil in the shores of Guyana and this could change the fate
of a small rain forest nation into a leading oil economy of the world. Exxon discovered largest oil
reservoir of the past decade in the Liza deep water oil field in Stabroek Block. Exxon has
estimated the recoverable oil resource up to 2.5 billion barrel (Andrew Fawthrop, 2020).
Exxon is estimating the output of 750,000 barrel per day from Liza oil rig. This will turn Guyana
into an oil based economy with so much potential that it could transform the lives of every
person in the country. Guyana’s GDP rose to 3.9 billion USD in 2018. IMF projected 85%
increase in GDP of Guyana till 2020. The main strength of this project is that Guyana will
receive 52% of the profits from Stabroek oil field alone. This translates into billions of dollars
for the poor nation of Guyana. There is now a new government in Guyana and they are striking
new deal for other discoveries in order to increase their profit share (Andrew Fawthrop, 2020).
These oil discoveries will put Guyana on the map of the world where countries will make good
relations with Guyana to get good oil deals. Trade will increase as they have a huge coastal belt.
As per the report of The Guardian there are some weaknesses in this project that need to be
addressed asap in order to maximize the benefits of these oil field discoveries. Exxon is burning
excess gas and this is causing a huge spike in greenhouse gases in atmosphere. This quantity is
770,000 metric tons in first year of drilling alone equivalent to fuel burning of 167,000 cars for
one year. This is a huge number which is causing grave concerns amongst environmentalists
(The Guardian, 2021).
Former EPA chief of Guyana Mr. Adams says that Exxon has promised the government that it
will not be flaring the gas but they constantly are violating the agreement. This could create
issues amongst the govt. and Exxon officials and will ultimately damage or slow the production
of project causing loss to Guyanese government, Exxon and its partners and to the people of
Guyana (The Guardian, 2021)
World leading petroleum engineer Robert Bea is not happy with the safety measure taken by
Exxon in Liza 1 drilling project as shown in their environmental impact report consisting of 500
pages submitted to Guyanese EPA (environmental protection agency). He further states that
Guyanese government doesn’t have enough resources and trained personals to handle any big oil
spill as happened in Macondo near the shore of Mexico (The Guardian, 2021).
Best example in this case is the project of Manifa by Saudi Aramco on the off shores of Saudi
Arabia. They developed 27 islands just to save environment and marine ecosystem.
In my opinion this project is very ambitious as Exxon is trying to extract 8 billion barrel of oil till
2050 and also there is a very strong pressure by environmental activists in reducing the carbon
foot print in the world and make it zero till 2050. Most of the automotive manufacturers are
shifting to electric vehicles and some have already shifted to hybrid (Electric battery + petrol)
vehicles. Bentley, Ford, BMW, Honda and General Motors will shift to electric vehicles
completely till 2035 (Jim Motavalli, 2021).
Share of oil consumption in the vehicles is 26% and automotive industry shifting to electric
vehicles will put a huge dent in the demand of oil and as a result oil demand will get lower which
will make huge projects of oil drilling like Exxon in Guyana very expensive and it will be very
difficult for the company to make profit out of it (Amy Myers & Lewis Fulton, 2017).

8) Success criteria of this project

Generally, the success of any project depends upon the cost, scope and time. If all these criteria
are met only then a project can be deemed successful.
Total investment of Exxon oil drilling in Guyana in Liza 1 project for the first phase is 4.4 billion
USD and for Liza 1 phase 2 is 6 billion USD. Oil production from phase 1 began in Dec, 2019
but its then slowed down due to COVID-19 pandemic. It’s phase 1 oil production will hit
120,000 bpd in Aug, 2021. Phase 2 of Liza 1 will start in 2022 (Off shore technology website).
Exxon made 18 discoveries in Stabroek block since 2015 and 4 discoveries in block 58 in
Suriname since Jan, 2020. Exxon is adding new rigs in the areas where oil discoveries are being
found. As per the reports of Rystad Energy, 3 drill ships are performing developing drilling
operations in Liza 1 in Stabroek block. (Steven Whitfield, 2021)
The success of this project requires proper consumption of the financial capitals and costs
provided in the budgetary provision of the project. The cost criteria would be evaluated
by gauging the cost of the project upon conclusion to find out whether the project was
accomplished within the allocated budget or not.
Second criteria amongst three is the scope of the project. Scope of the project all the demands
that are made in France Agreement related to environment must be completely met as USA is the
signatory of that agreement. It must also take in consideration the shifting of automotive industry
to electric vehicles as this will put a huge dent in oil demand all over the world as automotive oil
consumption %age of oil is 26%. This project will release 2 billion metric ton of CO2 in the
atmosphere which will violate the Paris Agreement (The Guardian, 2021). IEA is also forcing
every company in the world to not look for more oil drilling projects. The scope of this project is
really huge and it will depend on Exxon that how it manages the scope of project by meeting the
agreements it made with the world (Cate Bononcini, 2021).
The third criteria is time. This is the most important part in determining the success and failure of
the project. If time limit is not met then this could increase the cost of the project making
breakeven point more further and also damaging the scope of the project as the world is moving
towards zero carbon footprint till 2050 (IEA at COP26, 2021).
 9) Quality Management Issues that would affect the Project Outcome

9.1) Lack of Project Quality Management system

As quality standards is concerned, the project management system hired project managers to
determine the project appropriate time interval and also control errors and omission. The main
principal of project quality management is to ensure the project will exceed the stakeholder’s
expectations. The team must develop a good relation with stakeholders to identify the importance
of quality. However, there are some major causes for the lack of project management.
1. Project focuses only in meeting the written requirements for the main outputs and ignore
stakeholders need and expectations
2. Essential checks could not be done on early stages
Lack of that system could hinders compliance with quality standards as errors and omissions go
un noticed. So quality managers purpose is to identify the needs of stakeholders in terms of
quality and then put a proactive approach in place to meet or exceed those expectations.

9.2) Non Compliance with quality standards

Non conformity (NC) means the failure of quality standards that does not meet one or more of
the existing requirements in ISO 9001. When an organization fails the organization services,
product or processes falls short of industry standards also finds itself outside of regulatory
boundaries. Project Quality management should be followed through standard requirements and
guidelines. These NCs could be identified through internal and external audits, customer
complaints, material inspection and testing. Than report must be prepared. The basic purpose of
this report is to document the details of deviation. So that management can take steps to change
for better.

9.3) Ignoring Project Quality Audits

As quality management system has its requirements to determine whether quality activities and
results comply with a strategic arrangement that it effectively implemented and appropriate to
achieve the objectives. Quality auditing is the process to identify the conformance and non-
conformance of the quality elements which is used to ensure the product and process are as per
company standards. The common reasons for ignoring quality audit includes unsatisfactory
documentation, lack of ISO understanding, poor enforcement strategies, insufficient competency
testing and poor auditor selection. This implies that quality managers may ignore the tests and
audits on project, leading to the continuation of flawed project. By ignoring project quality audits
is attributed to the lack of proper quality control, which causes audit report to bounce from
project managers for addressing quality flaws. Therefore, the project could be affected if audit on
continuous bases not been completed.
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