More contracts to be released; no objection made by oil companies – Trotman

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The Government of Guyana has taken a decision to publicly release all of the contracts and agreements – such as the recently released Petroleum Sharing Agreement with ExxonMobil – for all of the oil companies operating in the South American country.

In December last the Government of Guyana released the ExxonMobil PSA and according to the Minister with responsibility for the sector, “we remain committed to releasing all contracts in the natural resources sector.”

Minister of Natural Resources, Raphael Trotman, was at the time speaking with reporters at the Ministry’s Boardroom on Brickdam, Georgetown where he disclosed that all of the Petroleum Companies have been written to regarding the release of the contracts.

“I can say as well, the letters have gone out to the petroleum companies,” Mr. Trotman told reporters, adding, “responses received so far have been that there is no objection to the release.”

As such, Mr. Trotman said, the Ministry is “aiming to begin posting more contracts at the end of this month, hopefully we would get one or two by next week.”

In addition to ExxonMobil and its joint venture partners Hess and CNOOC Nexen, oil companies operating concessions in Guyana include; Canadian based CGX Energy Inc., Repsol, Tullow Oil, Eco Atlantic, JHI Associates Inc. and Ratio Oil Exploration

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