Tag Archives: Production Sharing Agreement (PSA)

GUYANA: OIL: “Wishful thinking” that Payara could be leveraged to renegotiate Stabroek deal – Jagdeo

VP Dr. Bharrat Jagdeo

Vice President, Dr. Bharrat Jagdeo yesterday said that it is wishful thinking to assume that the Payara development permit could have been leveraged to demand a better Production Sharing Agreement (PSA) from ExxonMobil.

The politician delivered his latest rebuke of calls to get a better deal during a press conference at the Arthur Chung Conference Centre. The 2016 deal signed for Exxon’s operations in the Stabroek Block by former Minister of Natural Resources, Raphael Trotman has been widely condemned for a string of poor provisions, including a paltry two percent royalty share. The People’s Progressive Party Civic (PPP/C), which took office in August, has criticised, but refuses to renegotiate, the deal.      Continue reading