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FM
Former Member

The Production Sharing Agreement (PSA) with ExxonMobil is generous to the investor and a series of loopholes exist, such as the treatment of interest expense,  which could be abused and further limit benefits to Guyana.

These are some of the findings of an expert team from the Fiscal Affairs Department (FAD) of the International Monetary Fund (IMF) which undertook a mission at the request of Minister of Finance, Winston Jordan. It doesn’t state the date of the request but the team was here from July 10-21, 2017.

 

Stabroek News

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Baseman posted:

In all fairness, they requested the review.  This is an encouraging sign that they are willing to seek expert input in the oil sector.  Oil is new to Guyana!

After months of refusal, the government is today expected to release the much talked about contract it signed last year with oil major ExxonMobil and on which major questions remain to be answered.

“No, you won’t have to wait until the 31st (December), I can say within the next 24 hours,” a government official yesterday said when asked about the release date.

ExxonMobil will also be holding a press briefing today.

FM

After months of evasion, the government today released the production sharing agreement with ExxonMobil’s subsidiary, EEGLP and the company’s local head, Rod Henson said that the theUS$18m signing bonus was paid for the 10-year extension of the pact.

FM

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