Report: Western Oil Acquires 10% Stake in Exxon Mobil's Deepwater Block in Trinidad.

According to sources, a Western oil company will acquire a 10% stake in a deep-sea exploration block owned by ExxonMobil in the waters near Trinidad and Tobago. The block bordering the extremely oil-rich Stabroek block in Guyana is highly anticipated, but the current exploration risks remain high. ExxonMobil is currently conducting seismic surveys in the block, and data interpretation is expected to be completed by the end of 2026.