The PPP/C government yesterday announced that the tender for the marketing of Guyana’s oil is to be reopened and it also said that gas to energy will be a key priority and that local content provisions will be enshrined in law.
Speaking at a press conference at the Arthur Chung Conference Centre yesterday, Vice President Bharrat Jagdeo steered clear of expectations that the new government will seek to change the controversial 2016 Production Sharing Agreement (PSA) with ExxonMobil’s subsidiary EEPGL which has left Guyana with only a 2% royalty and other impositions which are seen as oppressive.
While Jagdeo did not address the royalty rate or some of the other contentious provisions of the agreement drawn up under the former Granger Administration, he did say that ExxonMobil’s training outlay was paltry considering that this government is aiming to ramp up tutoring of Guyanese on oil and gas.