The IHS Markit audit of cost claims by Exxon-Mobil and its partners for 1999 to 2017 found not only US$214.4M in disputed sums but that the oil companies operated in breach of the insurance requirement of the Produc-tion Sharing Agreement (PSA) as none of the three provided insurance certificates to show liability coverage.
Questionable insurance coverage in the case of an oil spill or other disaster has been a major issue of debate for years and neither ExxonMobil’s subsidiary here, Esso Explora-tion and Production Guyana Limited (EEPGL) nor the government has been been able to assuage public concerns.