Dear Editor,
Will Guyanese ever know what transpired on the successive trips to India by President Ali and his VP Jagdeo that triggered ‘bilateral oil development’ talks and hasty agreements? Guyanese were previously told by President Ali that Oil Blocks would be auctioned off in the future to avoid the suspicion of corruption; terms favourable to Guyana were indicated by VP Jagdeo “the cost recovery ceiling will be a cap of 65 percent, 35 percent remains to be divided. So, at a 50-50 profit share, you get 17 and a half percent of the gross and then another 10 percent royalty.” Now we are being told Guyana and India are weeks away from a bilateral agreement to develop oil & gas resources in the Stabroek Block.
Red Flags abound; the Indian National Oil and Gas Company (ONGC) is not owned solely by the Government of India, they only own 69% of the shares. ONGC has inked memorandums of understanding (MoUs) with oil giants ExxonMobil and Chevron for exploration and extraction of oil & gas from complex and ultra-deep waters along the east and west coasts of India, ONGC does not possess the technology required for deep water exploration. There is plenty of space for cronies and corruption in 31%. Guyanese are being deliberately misled by VP Jagdeo’s use of the term ‘bilateral’. India and Guyana infamously share 85th place on the Corruption Index world rankings. One can even ask if Guyana will form a National Hardware Oil Company and if the ‘usual suspects’ will be beneficial shareholders.
This private arrangement, brokered in secret talks in India is being foisted upon the people of Guyana as a ‘done deal’, this cannot and should not be tolerated by Guyanese regardless of the political party of choice. It takes longer to get a bridge built in Sophia than it took for this ‘bilateral’ deal to be brokered in India, it stinks of fish!
Sincerely,
(Name and address withheld)
