Sept 28 (Reuters) - U.S. oil producers Exxon Mobil (XOM.N) and Hess Corp (HES.N) have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing exploration results.
The exit comes as the producers focus on their larger and highly productive Stabroek block, where more than 11 billion barrels of oil and gas have been discovered so far.
The companies have transferred their stakes in the block to Ratio Guyana Limited and Cataleya Energy Limited, which originally held the exploration licenses, Exxon said.
A consortium composed of Exxon, Hess and CNOOC Ltd (0883.HK) control all offshore production in Guyana through the Stabroek block.
Exxon and Hess were among oil companies that submitted bids in an auction for 14 other oil and gas exploration blocks.
Persons:
Exxon, Hess, Kiana Wilburg, Sabrina Valle, Chris Reese, Leslie Adler
Organizations:
Exxon Mobil, Hess Corp, Exxon, Guyana, Cataleya Energy, Hess, CNOOC Ltd, Qatar Energy, Thomson
Locations:
deepwaters, HK, Guyana, Stabroek, Georgetown, Houston