CGX and Frontera Face License Cancellation:
The Government of Guyana has issued a 30-day mandatory notice to Canadian companies CGX Energy and Frontera Energy, signaling the imminent cancellation of their offshore exploration licenses for the Corentyne Block.
The move follows concerns over project delays and non-compliance with exploration commitments. If the notice period expires without satisfactory action, the government is expected to revoke their drilling rights and reallocate the oil-rich block.
Antonio Dey has more on this energy sector shake-up.
