Former Petroleum Advisor to the Government, Dr. Jan Mangal is of the firm view that the National Assembly should be the body determining the fiscal terms to be used in oil contracts. He insists that it should not be left to be negotiated on a one-on-one basis by a Minister.
Dr. Mangal said that there is much evidence which supports this. The Oil and Gas Consultant said, “Let the National Assembly fix them or at least fix narrow ranges, because in places like Guyana which have a history of corruption, the more discretionary decision-making left to officials, the higher the risk of corruption. So if a Minister can do a deal that allows for the transfer of billions from the country to the oil company then there is a huge incentive for bribery.”
The former Government advisor said that this incentive needs to be removed, and the way to do it is by fixing these fiscal terms in the National Assembly.
See more here: https://www.kaieteurnewsonline.com/2019/01/25/let-national-assembly-determine-fiscal-terms-for-oil-contracts-dr-jan-mangal/