By Kemol King

GEORGETOWN, July 3 (Reuters) - An Exxon Mobil-led

oil consortium has returned 2,534 square kilometers of

the Stabroek Block in Guyana back to the government, the

Ministry of Natural Resources said in a statement on Wednesday.

The relinquishment is part of a contractual requirement for

Exxon to enter the final phase of exploration of the Stabroek

Block, which contains one of the world's largest oil discoveries

in decades.

It was originally due in October, but talks between Exxon

and the government stalled the process. Exxon's final

exploration phase with the Stabroek Block is due to end in 2027.

The block has propelled Guyana to become one of the world's

fastest growing economies and has driven profits for Exxon, Hess

and CNOOC, the three partners in the

consortium that control all oil output in the country.

Exxon did not immediately respond to a request for comment.

The returned areas equate to about 9% of the total size of

the Stabroek Block, according to Reuters calculations.

The relinquished portions do not contain any discoveries or

production activities, the Ministry said.

The government has also said the relinquishment needed to

exclude part of the block Exxon could not explore due to a

territorial dispute between Guyana and Venezuela.

Guyana has said it wants to offer the relinquished

acreage to other companies in a future auction.