Hoping to put the renegotiation of the controversial 2016 Production Sharing Agreement (PSA) with ExxonMobil to rest, President Irfaan Ali yesterday said that he has accepted that although the deal is lopsided, a move to revamp it would not only deflate investor confidence but halt the progress of development and hurt mostly locals.
“We came in to government and met what we have said publicly is a lopsided agreement, but we have a responsibility to honour an agreement that was made. I spoke about the consequences of walking away. I saw a completely different headline from what I said,” Ali yesterday told the opening of the Guyana Energy Conference where in attendance were leading representatives of all three of the Stabroek Block partners as well as hundreds of representatives from companies across the globe .