– proposal for 25% relinquishment of Corentyne Block under review
CGX Energy has completed what has been a months-long process to relinquish its stake in the Demerara and Berbice Blocks, a decision that the company says will allow “other interested parties” to explore for oil in those blocks.
This was made known in the company’s recent financial filings. According to CGX, which has partnered with Frontera Energy, the Government had provided them with a surrender deed in September 2022 for the relinquishment of the Berbice Block. That surrender deed has since been signed and finalised, formally bringing an end to their hold on the block.
