The contract between ExxonMobil and the Government of Guyana has been described as a “reasonable deal” by renowned Professor of Economics Sir Paul Collier.
Speaking at a media interaction on Wednesday, March 21, following a high-level ministerial caucus, Collier said it is customary that the first deal is not as fruitful as the proceeding ones.
Professor of Economics, Sir Paul Collier, and Statesman and Advisor, Sir Shridath Ramphal engaging the media.
“What I’d suggest is that you use this as an opportunity to do some more licences over the next three, four years and get some more operators,” he advised.
The expert said that it would be “absolutely disastrous” to scrap the contract at this point. According to Collier, “if you tear this contract up, nobody else will come and that’s the brutal reality”.