The exploration and development activities offshore Guyana is ongoing, as scheduled, according to Exxon Mobil Corp.'s statement issued on Wednesday. Two ships from the E&D project were blocked by Venezuela's navy on December 22, but the company today said the location in the disputed waters is over 110 kilometers (68 miles) from the nearest discovery, which is in the southeast part of the Stabroek block. The vessels are operated by Petroleum Geo-Services ASA, or PGS, from Norway.
There are ten discoveries in the venture on 6.6 million acres (26,800 square kilometers), where the fossil fuel giant based in Irving, Texas, holds a 45% stake via Esso Exploration and Production Guyana Ltd. The South American country claims the site is within its exclusive economic zone.
ExxonMobil traded 0.66% in the green at 5:42 pm CET, selling for $65.94 per share and looking to snap a streak of seven sessions in the red. Today it touched $64.65, the lowest since October 2010. Hess Corp., which has a 30% interest, surged 2.99% to $37.53 per share. CNOOC Ltd. advanced 1.3% to $145.35 in New York. China National Offshore Oil Corp. controls 25% of Stabroek.
