The Department of Energy (DoE) has made it pellucid on several occasions that it will not be pursuing the renegotiation of the Production Sharing Agreement (PSA) with ExxonMobil’s partners, Hess and CNOOC, as well as its subsidiary, Esso Exploration and Production Guyana Limited (EEPGL).
It has also expressed that it is unconcerned with the fact that it is using a UK firm, Bayphase Consultancy, to review the Field Development Plans for ExxonMobil, even though Bayphase is Exxon’s client.
Taking the aforementioned into considering, among other factors, Oil and Gas Consultant, Dr. Jan Mangal is convinced that the Department of Energy is taking an incorrect stance when it comes to critical issues on the sector.
During an interview with Kaieteur News recently, Dr. Mangal said that the DoE should be championing the need for a re-negotiation of the contract for Stabroek Block. “But they are not and are instead, wasting time talking about future blocks when all the value for Guyana may be in the Stabroek Block,” Dr. Mangal commented.
He said, too, that the DoE should be spearheading a move to rescind the awards of the Kaieteur and Canje Blocks, but instead, nothing is being done in this regard.
Dr. Mangal added, “The DoE should have championed the need for cost reviews and audits, but initially they did not. And now it seems the cost review will be a stitch-up or just a farce, with the hiring of BayPhase.”
November 5, 2024
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