Despite posting a loss for the second consecutive quarter, ExxonMobil yesterday announced it is maintaining its capital expenditure here but wants a quick approval of its third well, Payara, while warning that delays could cost Guyana significantly.
With the country in the throes of an elections crisis, the requisite approvals are unlikely to materialise for the Payara well until a new government is in place.
The longer the permits take to be approved, according to company president Neil Chapman, this country stands to lose.
