Guyana’s Natural Resource Fund (NRF) on Tuesday received a deposit of US$4.9 million, representing this country’s first royalty payment from offshore oil production.
Governor of the Bank of Guyana Dr. Gobind Ganga confirmed the payment and said that it brings revenues from oil in the NRF to close to US$60 million to date.
This country is entitled to five cargoes or five million barrels of oil this year as part of its profit share agreement with ExxonMobil and its partners, in addition to the 2 per cent royalty on all production in the Stabroek Block.
