Exxon Mobil Corporation has announced a significant expansion in its collaboration with Guyana, further solidifying the nation's status as an emerging energy superpower. Guyana, which boasts the world's fastest-growing economy, is set to see its GDP rise dramatically from $4.3 billion in 2015 to an expected $26 billion this year, with projections reaching $41 billion by 2030. This growth is fueled by substantial investments and economic activities stemming from ExxonMobil's operations, which have already generated $2.6 billion in royalty payments to the government last year alone, with forecasts of $10 billion annually by the decade's end. The partnership has also created over 6,000 jobs for Guyanese workers, comprising nearly 70% of the local oil and gas workforce. As the decade unfolds, ExxonMobil plans to explore Guyana's natural gas resources, potentially positioning the country as a critical regional energy supplier. This development reflects strategic planning by Guyanese officials to harness the benefits of oil production while avoiding the pitfalls of the "resource curse."
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