Natural Resources Minister Raphael Trotman today maintained that Government is satisfied with the amount of money that was paid over to it by ExxonMobil as a signing bonus following its renegotiation with the US based Oil Company last year.
Trotman defended the US$18M, which was received by Government under the renegotiated petroleum agreement which was originally entered into by the Peoples Progressive Party Civic Government back in 1999, even as more criticisms are being levelled at the Government for accepting a paltry sum.
The Natural Resources Minister said he was satisfied with the quality of the negotiations and the outcomes in this respect.
He maintained that the figure for the oil bonus was arrived at after taking into account the cost of a legal battle to defend Guyana’s borders in court, whenever the matter is taken before the ICJ.
Trotman went onto to reveal that he headed the official negotiating team which comprised other local and international experts.