Minster of Natural Resources Raphael Trotman has absolved himself of any responsibility for not expressing sooner that the lack of ring-fencing provisions in the Production Sharing Agreement with ExxonMobil’s subsidiary could negatively affect revenue earned by Guyana from the oil operations.
During an International Monetary Fund (IMF) delegation visit here earlier this month, government, for the first time, expressed concern that the lack of ring-fencing could negatively affect revenue earned from the agreement it signed with Esso Exploration and Production Guyana Limited (EEPGL) for the 6.6 million acres Stabroek Block.
“My only comment is that as a non-technical person, I was not the one to negotiate the contract, and that, at all material times, I acted on the advice and direction of the GGMC,” Trotman told Stabroek News.
