The world’s newest offshore hotspot, Guyana, is in the early stages of a probe into how oil exploration rights were awarded for oil blocks that are currently controlled by ExxonMobil and Tullow Oil, Clive Thomas, director of Guyana’s State Assets Recovery Agency, told Bloomberg in an interview published this week. Neither Exxon nor Tullow Oil are targets of the investigation. The two companies are not accused of any misconduct either. They are operators of the oil blocks which will be included in the scope of the investigation as the current administration in Guyana is looking to assess the procedures under which the oil blocks had been awarded. The Stabroek, Kaieteur, Canje, and Orinduik blocks will be part of the investigation. Exxon is operator of Stabroek, Kaieteur, Canje, while Tullow Oil operates the Orinduik block. “We’re building up a case. This is an area of investigation into how the blocks […]