ExxonMobil’s Canje Block exploration license to expire next week

Feb. 24 (oilnow.gy) ExxonMobil’s exploration licence for the Canje Block will expire next week, according to information from the Ministry of Natural Resources.

Minister of Natural Resources Vickram Bharrat told Reuters the offshore block is set to expire soon. Ministry staff subsequently confirmed to OilNOW that the specific expiry date is March 4, 2026.

The Canje Block is operated by ExxonMobil, which holds a 35% stake. Its co-venturer, TotalEnergies, also holds 35%. JHI Associates holds 17.5%, while Mid-Atlantic Oil & Gas holds the remaining 12.5%.

ExxonMobil drilled three exploration wells in the block, namely Bulletwood-1, Jabillo-1 and Sapote-1. The campaign did not result in any commercial hydrocarbon discoveries.

With no commercial finds declared, the block is on track to be relinquished in full to the State upon expiry of the licence.

Bharrat told Reuters that if ExxonMobil wishes to retain the acreage, it would have to reapply.

The relinquishment will add to the pool of acreage available for future licensing, as Guyana continues to encourage exploration activity outside the prolific Stabroek Block.