With the country’s limited capacity to audit pre-contract costs for oil recovery, Head of the Department of Energy, Dr Mark Bynoe, says that an international firm will be hired to aid both the Guyana Revenue Authority (GRA) and the state audit office to discharge their obligations.
Dr. Bynoe believes that the process will take time but he is preparing interim measures, such as recruiting an international company to assist with the fostering and transfer of oil and gas content knowledge.
“While both the Guyana Revenue Authority and the Office of the Auditor General have some capacity to conduct the first cost recovery audit of ExxonMobil, they tend to have limited subject expertise. In this vein, therefore, the Department is working to procure the services of a reputable international firm that can assist these entities in conducting said audits,” Dr. Bynoe told this newspaper, when contacted.
