The Ministry of Natural Resources (MNR) has pushed back against a recent Kaieteur News article suggesting that the Government of Guyana is lagging behind on the relinquishment process for the Stabroek Block.
In a statement on Wednesday, the Ministry made it clear that the report, headlined “Hess to return 94% net undeveloped acreage in Guyana, Suriname within next 3 years…as 20% relinquishment of Stabroek Block now 7 months behind deadline”, is both misleading and lacking in context.

Contrary to the insinuations made, the Ministry stated that it is actively working—alongside the Guyana Geology and Mines Commission (GGMC)—to finalize the review of ExxonMobil Guyana Limited’s (EMGL) application for the renewal of the Stabroek Petroleum Exploration Licence.

This review, the statement noted, is a prerequisite to triggering the second renewal period of the agreement, during which 20 per cent of the contract area must be relinquished.
“Since 2015, the Stabroek Block has been the site of multiple significant discoveries, which are now undergoing evaluation and appraisal to determine their commercial potential.

“The discoveries are classified as either potentially commercial or non-commercial following a comprehensive process conducted by EMGL, based on studies and appraisal activities. Non-commercial discoveries have to be included in the relinquishment calculation while potentially commercial discoveries do not need to be relinquished,” the release said.

Importantly, the Ministry confirmed that a minimum area of 2,534 square kilometres has already been agreed upon for relinquishment—excluding zones related to discoveries, appraisals, and production as per the Petroleum Agreement and the Petroleum Activities Act.

“The MNR and GGMC continue to work diligently in assessing the extent of these discovery areas in order to finalize the relinquishment requirements and this will be completed shortly, all while following the requirements of the Petroleum Activities Act and the Stabroek Petroleum Agreement,” the Minister said.

It reiterated its commitment to ensuring that the exploration and management of Guyana’s natural resources continue in a responsible and transparent manner, with due consideration for environmental and economic impacts.