– Resolve discrepancies in pre-contract costs
– Probe cost anomalies between Liza 1 & 2
– Review taxes paid by Guyana for oil companies
– Review unspecified interest rates on oil companies’ loans
– Improve weak environmental standards
– Regulate amount of oil being produced
A group of 17 civil society professionals in the diaspora are calling on President Irfaan Ali to undertake a comprehensive review of the oil sector before it approves the Payara Field Development Plan (FDP) permitting ExxonMobil to produce oil in a third well.
At the top of its list is the renegotiation of the Stabroek Block Production Sharing Agreement (PSA), which has faced widespread condemnation for its lopsided provisions. Canada-based Engineer, Darshanand Khusial heads this list. He told Kaieteur News that the President, whom he congratulated on his assumption of office, should live up to his promises to ensure Guyana’s energy resources are properly managed. The others on the list boast legal, economic and education portfolios, among others.
ExxonMobil has been producing oil in the Liza field since December, 2019. It is on track to produce from Liza Phase 2 in 2022, and has been campaigning vigorously for the swift approval of the Payara project. Its claims are that any delay in approval would result in billions of losses for Guyana.
Experts like Former Advisor to President David Granger, Dr. Jan Mangal, believe otherwise, and have advised Guyana not to fall for Exxon’s ploy.
See more here: https://www.kaieteurnewsonline.com/2020/08/07/17-in-diaspora-demand-comprehensive-review-of-oil-sector/
