Representatives from CNOOC Petroleum Guyana Limited – which has a stake in the offshore Stabroek Block – yesterday called on Minister of Foreign Affairs and International Cooperation, Hugh Todd.
During the meeting, Manager of the Regional Office, Anand Gohil, and Senior Advisor on Government Relations, Bayney Karran provided the Foreign Minister with an overview of CNOOC International’s projects and initiatives.
A release from the ministry said that among mutual areas of interest, they discussed local content, possible areas of collaboration, capacity building, and corporate social responsibility (CSR).
CNOOC’s parent company was recently blacklisted by the Donald Trump administration. It is yet unclear what impact this will have on activities in the lucrative Stabroek Block where the operator is US oil major, ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited.
The blacklist pertains to alleged Chinese military companies, according to Reuters.
Also blacklisted was China’s top chipmaker SMIC.
CNOOC International holds a 25% working interest in the Stabroek Block. ExxonMobil is the operator with a 45% interest and Hess has a 30% working interest.
While the blacklisting did not initially trigger any penalties, Reuters said that a recent executive order issued by President Donald Trump will prevent U.S. investors from buying securities of the blacklisted firms starting late next year.
The expanded blacklist is seen as part of a bid to entrench outgoing Republican Trump’s tough-on-China legacy and to box incoming Democrat Biden into hardline positions on Beijing.
