Exxon Mobil has reportedly initiated negotiations with the Government to explore oil and gas in up to seven deepwater blocks off the eastern coast.
According to Reuters, two sources confirmed the areas of interest to be north of the company’s prolific Stabroek block in Guyana.
T&T recently extended the deadline for its deepwater block auction to September 17, although the blocks under discussion with Exxon are not part of this auction.
The report stated that If Exxon and T&T reach an agreement, it could potentially acquire almost all the ultra deepwater blocks that remain unlicensed.
Exxon, the largest oil producer in the United States, has refused to comment.
