US supermajor ExxonMobil has officially relinquished 20% of the area of the prolific Stabroek block offshore Guyana.

Chevron-Hess Deal Hinges on Exxon Arbitration Over Guyana Oil Stake. Source: Ben P L, CC BY-SA 2.0, via Wikimedia Commons ...

An Exxon Mobil-led oil consortium has returned 2,534 square kilometers of the Stabroek Block in Guyana back to the government, the Ministry of Natural Resources said in a statement on Wednesday.

An Exxon Mobil-led oil consortium has returned 2,534 square kilometers of the Stabroek Block in Guyana back to the government.

Guyana has pledged to crack down on gold smuggled across the border from neighboring Venezuela at the urging of the U.S. government.

Modec is in charge of two floaters to produce for US supermajor ExxonMobil in the prolific Stabroek block — the Errea Wittu FPSO in the Uaru field and a yet-to-be-named unit for the Hammerhead ...