ExxonMobil and its partners operating in Guyana’s Stabroek block have been granted a year’s extension for exploration in the block, Vice President Bharrat Jagdeo on Thursday confirmed.
Jagdeo noted that the government was approached by the consortium during the COVID-19 pandemic for an extension since the licence is due to expire in 2026.
“We have given approval for one year force majeure that was in the COVID period. So the relinquishment provision will shift by one year,” the Vice President said in response to a query from this newspaper.
