Core Insights - Exxon Mobil Corporation (XOM) has enhanced its presence in the Caribbean through a significant deepwater acquisition in Trinidad and Tobago, securing a production sharing contract (PSC) for a frontier block larger than the country itself [1] Group 1: Acquisition Details - ExxonMobil signed a PSC with the Government of Trinidad & Tobago for the Ultra Deepwater 1 (UD-1) block, covering approximately 7,100 square kilometers, which is larger than Trinidad and Tobago [2][9] - The UD-1 block is awarded exclusively to ExxonMobil with a 100% working interest, consolidating seven separate blocks from the February 2025 Deep Water Competitive Bidding Round [2][9] Group 2: Strategic Importance - John Ardill, ExxonMobil's vice president, highlighted the deal as a milestone for the company's regional strategy, enhancing its ability to utilize industry expertise in Trinidad and Tobago [3] - The acquisition marks ExxonMobil's return to Trinidadian waters, where it last signed a PSC in 1998, indicating a renewed focus on leveraging advanced deepwater drilling technology in unexplored areas [4] Group 3: Broader Implications - The UD-1 acquisition strengthens ExxonMobil's deepwater presence in the Caribbean, allowing the company to unlock new reserves and extend its influence in the Western Hemisphere [6] - This deal diversifies Trinidad's energy portfolio and aligns with ExxonMobil's long-term strategy of pursuing large-scale offshore opportunities [6] Group 4: Ongoing Developments - ExxonMobil is currently leading oil development in Guyana, with the Yellowtail project recently commencing production, expected to yield an initial average of 250,000 barrels of oil per day, marking it as the largest oil project in Guyana to date [5]