By Kemol King

GEORGETOWN, June 3 (Reuters) - The profit of a

consortium by oil producers Exxon Mobil ( XOM ), Hess

and CNOOC in Guyana increased 64% last year to $10.4

billion, Exxon said on Tuesday, amid facility updates that

allowed a sustained expansion of output.

Because of fast production growth and relatively low

government royalties and taxes, Guyana has become a money-making

operation for the group's members.

Exxon reported in January that it had total adjusted

earnings

of $33.46 billion in 2024. Of that amount, $4.7 billion

came from Guyana, according to a report on its Guyana operations

that was released on Tuesday.

Hess' profit in Guyana rose to $3.1 billion last year from

$1.9 billion in 2023, while CNOOC registered a $2.5 billion

profit last year versus $1.5 billion in 2023, according to the

companies' individual reports.

The group's expenses in the South American country rose 42% to

$4.9 billion in 2024, for a profit before taxes of $12.8

billion, Exxon added.