Correcting award of oil blocks to unknowns will scare off “exploitative” investors – Dr. Jan Mangal

Oil and Gas Consultant, Dr. Jan Mangal, does not agree with the private sector’s view that the State Asset Recovery Agency (SARA)’s probe of how the Canje and Kaieteur oil blocks were awarded to four inexperienced firms will scare away investors.
In fact, Dr. Mangal told Kaieteur News that the probe would set the tone for Guyana’s oil industry, and indicate to the international community that Guyana is transitioning to a rules-based country where corruption will be not be tolerated.
Dr. Mangal said, “The issue before us is an obvious one. Everyone in the industry knows Guyana has been defrauded with the Canje and Kaieteur Blocks. Whenever you see illegitimate companies and individuals being awarded blocks around the world, you know something is wrong. However, those who benefit from this type of fraud will say Guyana should not rescind the blocks and that Guyana will scare away investors (and there are many of these beneficiaries of fraud, outside and inside of Guyana).”
The Oil Consultant said that those who want to see things done properly and want to see Guyana prosper will be against these types of awards which defraud countries around the world. Also, when there has been fraud like the one that occurred in Guyana, Dr. Mangal stressed that it attracts even more bad investors. He told Kaieteur News that it attracts the nasty exploitative investors, which Guyana does not need. The former Presidential Advisor said that these frauds are like blood in the sea for sharks.