April 12 (Reuters) - An Exxon Mobil arbitration
case that could block the sale of one of its Guyana partners,
Hess Corp ( HES ), to Chevron ( CVX ) could drag on until
year-end, Hess said in a U.S. securities filing on Friday.
Earlier this year, Exxon and China's CNOOC filed the case
seeking to preserve their right to evaluate making a bid for
Hess's 30% stake in the giant Stabroek offshore oil block in
Guyana if Chevron ( CVX ) proceeds with its proposed $53 billion
purchase.
As per the filing, Hess is seeking to have the merits of the
arbitration heard by the third quarter of 2024 and complete the
arbitration by the end of the year.
Hess said it could no longer say when the deal will close
"because it is subject to conditions beyond each company's
control".
The companies initially hoped to close the acquisition in
the first half of this year, and later moved any closing to the
second half of this year. The acquisition remains under review
by a U.S. regulator.