10:29 AM EST, 12/03/2024 (MT Newswires) -- Exxon Mobil ( XOM ) and its partners are still in discussions with Guyana's government on how to develop a shallow water oil field, Reuters reported Tuesday citing an Exxon spokesperson.

Exxon Mobil ( XOM ), Hess (HES) and CNOOC won the offshore block S8 in a bidding process that started in late 2022 under President Irfaan Ali's government, the report said.

The companies remain interested in the S8 block and are continuing negotiations but Exxon did not say if they plan to use the area for storing carbon or for exploring oil and gas, according to Reuters.

Exxon Mobil ( XOM ) did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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