When asked directly, Woods told the CERAWeek by S&P Global energy conference that acquiring Hess is not one of Exxon's objectives in the dispute with Chevron.
HOUSTON — Exxon is not trying to acquire Hess as the oil major battles with Chevron over lucrative oil assets in Guyana, CEO Darren Woods said Monday.
Exxon is claiming a right of first refusal over Hess' Guyana assets under a joint operating agreement that governs the Stabroek oil block, which is estimated to have 11 billion barrels of oil and gas.
Woods said Exxon is also trying to find out how much value Chevron's deal is placing on Hess' Guyana assets.
Exxon wrote the joint operating agreement that governs the Stabroek block, Woods said.
Persons:
Woods, Hess, Darren Woods, CNBC's
Organizations:
Global, Chevron, Exxon, HOUSTON, Offshore Oil Corporation, International Chamber of Commerce
Locations:
Guyana, China, Paris, CERAWeek