Tag Archives: OIL: With two-year deadline… Guyana running out of time to audit Liza One and Two

OIL: With two-year deadline… Guyana running out of time to audit Liza One and Two

– will be forced to accept US$10B costs – IMF

The International Monetary Fund (IMF) has warned Guyana since 2016, that one of the most critical challenges it faces is conducting effective cost audits, especially when it is taken into account that the Stabroek Block Production Sharing Agreement (PSA) with ExxonMobil only gives the nation a two-year window to contest unreasonable and/or inflated costs.

With such a timeline, it would mean that the country has to act swiftly or else, those costs as reported by the oil giant would have to be accepted, the IMF cautioned.  Continue reading