The new PPP/C administration on Wednesday announced that it will immediately engage the oil & gas companies in better contract administration/ renegotiation but gave no specifics even as it indicated that it will establish an “arm’s length” Sovereign Wealth Fund (SWF) insulated from political interference.
The announcement was made during the reading of the emergency budget to the National Assembly by the Minister of Public Works Juan Edgill.
According to Edghill, the government will approach the oil & gas sector in a national, non-partisan manner and it is expected to “bring not only significant financial resources and enormous transformational opportunities, but also many challenges.”