ExxonMobil is not currently open to renegotiation of the Production Sharing Agreement (PSA) its local subsidiary signed with the Government of Guyana, according to the company’s Public and Government Affairs Advisor Kimberly Brasington, who yesterday said that if a request had been made for an “astronomical” signing bonus, it would have rejected it and stuck with the original 1999 agreement which did not provide for any.
“While I am not going to say no or yes—because you never say never, right?—I am going to say that we believe firmly in that principle that there is real value in the sanctity of a contract,” Brasington said, when asked by Stabroek News if the company was open to renegotiation.
Hinting that a change in contract might turn away investors from Guyana, she added, “There are a lot of eyes on Guyana right now, watching to see how this plays out—if this is a stable environment in which to do business.”
Government late last month