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Guyana probing offshore oil leases controlled by Exxon, Tullow - Bloomberg

  • The head of Guyana's anti-corruption agency says he is investigating how exploration rights were awarded in the country's huge deepwater oil discovery, including those now controlled by Exxon Mobil (NYSE:XOM) and Tullow Oil (OTCPK:TUWLF).
  • The Stabroek, Kaieteur and Canje blocks operated by XOM will be part of the inquiry, as well as Orinduik operated by Tullow, Clive Thomas, director of the the State Assets Recovery Agency, tells Bloomberg.
  • Guyana has become one of the world's most sought-after exploration plays after XOM struck oil off its coast in 2015, a discovery that has since grown to 5.5B barrels, but critics say the country's oil contracts were sold off too cheaply and without due process.

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