While government has said that it anticipates receiving about US$300 million in 2020, when ExxonMobil is expected to begin oil production offshore, the company says it cannot disclose its estimated production and commodity costs per barrel or how many days of the year it will be pumping oil.
“We typically don’t share that information but we work closely with the government on estimated costs and production plans. Upon start-up, we’ll have a small ramp-up period to full production. Apart from periodic maintenance, we plan to operate at full capacity,” Public and Government Affairs Manager of ExxonMobil, Deedra Moe, said in response to questions posed by Stabroek News.
The company’s reticence has led to civil society activist and chartered accountant Christopher Ram saying that keeping the information secret doesn’t auger well for government in the area of transparency. Ram said that the public has to be aware of how government and the company are calculating revenue and production costs, so that in the future there would be information for reference and comparison.
