Historic oil contract released – Government and ExxonMobil host briefing for key stakeholders

DPI, Guyana, Thursday, December 28, 2017

The Government of Guyana today released the historic contract with ExxonMobil, CNOOC Nexen, and Hess under which several billion barrels of oil will be produced.

Minister of State, Joseph Harmon addressing the gathering at the public release of the Petroleum Agreement between the Government and Exxon Mobil, CNOOC Nexen and HESS. Seated are Minister of Natural Resources, Raphael Trotman, and ExxonMobil Country Manager Rod Henson.

During a high-level presentation on the contract at the Ministry of the Presidency, it was disclosed that Guyana stands to gain some US$7Billion over a twenty-year period from the LIZA Phase One well only.

His Excellency President David Granger, Prime Minister Moses Nagamootoo and ministers of government attended the briefing.

The Opposition Leader and parliamentary opposition along with representatives from labour unions, civil society, academia, the business community, the media, the religious community and other stakeholders were invited.

The full contract was presented to all those in attendance and is available online at www.dpi.gov.gy/contracts

Minister of State Joseph Harmon hosted the briefing on behalf of government while presentations were made by Minister of Natural Resources Raphael Trotman and Exxon Country Manager Rod Henson. Minister Trotman gave a background and overview of the contract while Henson made a detailed presentation on the terms of the contract, focusing on those aspects which were renegotiated.

While all other stakeholder representatives attended, noticeably absent were the Opposition Leader and opposition members of parliament.

Minister of Natural Resources, Raphael Trotman.

ExxonMobil Country Manager Rod Henson.

Awaiting the announcement, President David Granger, Prime Minister Moses Nagamootoo, Minister of Indigenous People’s Affairs Sydney Allicock and Minister with the Ministry of Natural Resources, Simona Broomes seated in the front row. (to the left) Minister of Public Security Khemraj Ramjattan. Several other Ministers of Government can be see seated in the rows behind.

A section of the media and government officials attending the public announcement.