In a decision to focus on its Stabroek and Canje Blocks here, ExxonMobil yesterday announced that it has withdrawn its interests from the 3.3 million-acre (13,535 square kilometers) Kaieteur Block.
“ExxonMobil Guyana has exited the Kaieteur block offshore Guyana, with participating interest assigned to Ratio Guyana Limited and Cataleya Energy Limited; Ratio is anticipated to assume the role as operator,” the company said in a statement yesterday.
“Our exploration efforts and discovery of oil in the Kaieteur block have highlighted Guyana’s offshore potential. Our withdrawal from the Kaieteur block has no impact on our commitment to seeking further exploration and development opportunities and to generating additional value for the government and people of Guyana. This includes our accelerated development and production in the Stabroek block, where we are targeting six FPSOs by the end of 2027, bringing Guyana’s production capacity to more than one million barrels per day,” it added.