Government on Wednesday released a petroleum agreement that was signed between the then president Donald Ramotar and Israeli company Ratio Energy Limited just two weeks prior to the May 11th, 2015 general elections, and it also includes terms that mirror those in the controversial 2016 deal between the current administration and the local ExxonMobil affiliate and partners.
The release of the agreement by the Natural Resources Ministry follows the release of both the 2016 agreement and one other between the former administration and CGX in 2013.
Ramotar has said that a decades-old template had been used for agreements signed between the former administration and oil exploration companies. The current administration has faced continued criticism over the terms of the renegotiated agreement with Exxon, with critics saying that the company’s oil find here in 2015 provided the basis for a better agreement to be negotiated.
