Payara FDP review will guide Govt’s decision
DPI, Guyana, Friday, August 14, 2020
The Payara prospect, ExxonMobil’s third development project offshore Guyana, is on hold as the new PPP/C Government awaits a review of the Payara Field Development Plan (FDP) before granting its approval.
During a media engagement on Friday, Vice President of the Cooperative Republic of Guyana, Hon. Dr. Bharrat Jagdeo, disclosed that the Government has hired a consultant to review the development plan, and it is expected to be completed by August 24, 2020.
“We have made it clear that consistent with what we have said before, we want to move the production along, but we also want to be sure that the country benefits from this,” the Vice President told media operatives at the Arthur Chung Conference Centre (ACCC).
He noted that it was His Excellency, Dr. Mohamed Irfaan Ali, President of the Cooperative Republic of Guyana, who decided to have a review of the Payara FDP done and “that technical review will guide the decision of the PPP/C Government”.
Dr. Jagdeo maintained that the review is not intended to delay Payara’s field development, but rather to ensure the country’s resource is protected.
“We want to ensure that there is a proper technical evaluation because that is a technical issue about field developments, and we need the consultants to look at these issues.”
Earlier this week, President Ali disclosed that a meeting with various stakeholders was held where they were informed of the Government’s review.
“So, we are in the process of engaging an international expert to do that review of the work done so far,” the Head of State had told the media on Tuesday.
The Vice President also confirmed that the Canadian Government aided in procuring technical assistance on the issue.
The US oil giant had submitted the Payara FDP in September 2019, and has been awaiting approval since December 2019, after the former APNU+AFC Coalition Administration would have reviewed it.
The Payara project is expected to produce up to 750,000 barrels of oil per day once it gets on stream.