Dear Editor,
Article 11 of 2016 Production Sharing Agreement (PSA) states “cost oil is limited in any month to an amount which equals 75% of the total production from the contract area for such month”. Guyana was allotted profit as per article 11 whereas the investors’ cost oil may have been approximately 46% and 25% for 2021 and 2022 respectively refer to EEPGL 2022 financial statements). Is this “allotment method” a breach of the 2016 Production Sharing Agreement?
Sincerely,
Gary Sampson