By Stabroek News
The Ministry of Natural Resources (MoNR) in a release yesterday confirmed that in partnership with the Guyana Geology and Mines Commission (GGMC), it has completed its review of ExxonMobil Guyana Limited鈥檚 (EMGL) relinquishment proposals of the renewal of the Stabroek Block Petroleum Exploration Licence.
This followed an article in yesterday鈥檚 Kaieteur News concerning EMGL鈥檚 relinquishment of 20 per cent of the Stabroek Block.
The release said that an area of 2,534 square kilometres has been relinquished to Guyana as agreed upon between the Government of Guyana and the Stabroek Block operator. This, it noted, is entirely in keeping with the legal provisions outlined in the Petroleum Activities Act (PAA) and other processes critical to the completion of this process.