Govt promises to release more oil contracts by month-end

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The Government of Guyana has made a commitment to have the contracts signed with other oil companies that are undertaking oil exploration activities in Guyana, released by the end of this month.

Minister of Natural Resources, Raphael Trotman

Natural Resources Minister Raphael Trotman told a media conference today (Thursday) that these contracts will be posted on the Ministry’s website by the end of this month for everyone to have access.

Trotman said by releasing the other oil contracts, Guyanese will have a better understanding of what is taking place within the sector.

However, he noted that petroleum is not the only area in which his Ministry hopes to make more available, as other sectors too will be looked at.

Government bowed to public pressure after months of mounting concerns and speculation over the contact with US oil giant ExxonMobil.

While listing several reasons, Government claimed that security reasons and confidentiality clauses in the contract would prove to be barriers.

ExxonMobil had said that it was willing to release the contract once its partners and Government of Guyana, as stakeholders, give the green light.

 

 

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