22 C
Georgetown
Saturday, February 27, 2021

Guyana Government releases ExxonMobil contract

Must Read

In historic move, Exxon takes Canadian oil sands off its books

(Bloomberg) --Exxon Mobil erased almost every drop of oil-sands crude from its books in a sweeping revision of worldwide...

Reassembly of gas compressor completed, testing to begin – ExxonMobil

ExxonMobil Guyana said this week that all rework and reassembly of the flash gas compressor that encountered challenges in...

Exxon sees unprecedented progress in local content development in Guyana – Routledge

President of ExxonMobil Guyana, Alistair Routledge said this week he has seen unprecedented levels of progress in local content...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

The Production Sharing Agreement (PSA) between the Government of Guyana and ExxonMobil affiliate Esso Exploration and Production Guyana Limited was released today at a special meeting held at the Ministry of the Presidency in Georgetown, Guyana. The agreement has attracted much attention in the media recently with several sections of society calling for its release.

It was also announced at the meeting by Minister of Natural Resources, Raphael Trotman that the recent Turbot discovery has pushed the total recoverable reserves so far to 3.2 billion barrels of oil.

ExxonMobil’s figures currently stand at 2.25 billion to 2.75 billion barrels total recoverable reserves in the Stabroek Block.

‘Unreasonable to compare Guyana’s PSA to those of more mature countries’ – Exxon Country Manager

Kimberly Brasington, ExxonMobil’s Senior Director, Public and Government Affairs told OilNOW in a previous interview that Exxon has always been “prepared to follow the law” regarding contract disclosures.

British High Commissioner to Guyana, Greg Quinn also in a recent interview said that the decision to release the contract was a welcomed one but should apply to all companies equally.

The contract is available for download below;

 

Latest News

In historic move, Exxon takes Canadian oil sands off its books

(Bloomberg) --Exxon Mobil erased almost every drop of oil-sands crude from its books in a sweeping revision of worldwide...

Reassembly of gas compressor completed, testing to begin – ExxonMobil

ExxonMobil Guyana said this week that all rework and reassembly of the flash gas compressor that encountered challenges in January have been completed and...

Exxon sees unprecedented progress in local content development in Guyana – Routledge

President of ExxonMobil Guyana, Alistair Routledge said this week he has seen unprecedented levels of progress in local content development and stressed the importance...

Foreign investors crucial to Guyana’s development, says government officials

Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Dr. Peter Ramsaroop, days ago reiterated the importance of foreign direct investment to Guyana’s...

Tullow Oil reaches over US$1 billion reserve-based loan agreement with banks

U.K. based multinational oil and gas exploration company Tullow Oil said on Friday it has been able to finalise a more than US$1 billion...

More Articles Like This