The ExxonMobil consortium which won an oil block in the 2022 bid round and licensing auction is still in talks with the government on the agreement, Country Manager Alistair Routledge has said as he underscored prioritizing incentivizing his firm’s investment.
“The important thing is we continue to have that discussion in a collaborative way to try to find an agreement that works for all parties; that incentivizes the investment; incentivizes taking the risk because these are blocks with no discoveries. So having to take the exploration risk, invest money and ultimately timely not knowing if you will make any money back,” Routledge told a press conference he hosted on Wednesday at his office’s Duke Street location.