HOUSTON, June 25 (Reuters) - A newly formed company

headed by a former Exxon Mobil executive and China's

CNOOC Ltd are the top bidders to develop a plan to

develop a natural gas industry in Guyana, a person familiar with

the matter said.

Guyana wants to put together a plan to monetize its vast

untapped natural gas resources and develop a second leg to its

booming energy industry. The country is estimated to have 16

trillion cubic feet of gas off its Caribbean coast, according to

the U.S. Energy Information Administration.

Government officials want to use the gas to produce

petrochemicals, process the gas for pipeline or liquefied

natural exports, and to fuel electric power stations.

Last week, President Irfaan Ali said in a media briefing

that U.S.-based Fulcrum LNG topped a list of 17 groups that

submitted proposals to Guyana. Chinese oil giant CNOOC, one of

three members of a joint venture responsible for all the

country's oil production, came in second, the person said.

Fulcrum LNG was founded less than a year ago by Jesus

Bronchalo, who spent two decades at Exxon, most recently as a

vice president based in Guyana. He left Exxon in mid-2023 and

corporate records show he founded Fulcrum LNG in Nevada in July

last year.

He was involved in Exxon's gas pipeline that will

deliver fuel to a processing and power plant.

Bronchalo did not reply to requests for comment. Exxon

declined to comment.

The company selected to develop, build and operate a gas

project would be a partner with Exxon and the government of

Guyana, Ali said. An agreement is not expected until next year.

Guyana is building a $1.9 billion gas-to-power project,

fueled by gas that will come from an Exxon, CNOOC and Hess

joint venture. The plant will supply electricity for

industry and residents.

Exxon has not decided whether it will participate on the

project to process and export the gas. Guyana has said it would

push forward the project, estimated to cost up to $15 billion,

with or without Exxon.