Over US$493 million was paid into the Natural Resources Fund during the period of July 1 to September 30, 2022, according to the Ministry of Finance.
The total of US$493,184,568.51 was accrued from five payments, representing four profit oil payments as well as the royalty payment for the second quarter of production.
There were two payments each for lifts from the Liza Unity FPSO and the Liza Destiny FPSO, which are being operated by ExxonMobil and its partners in the Stabroek Block, offshore Guyana.
The deposits were gazetted by the ministry in keeping with Section 33(2) of the Natural Resource Fund Act, which provides for the publication of all petroleum revenues that are paid into the fund within three months.
The closing balance as of the end of July 2022 of monies from oil proceeds in Guyana’s Natural Resource Fund stood at US$ 845.6 million. A total of US$607 million is to be withdrawn this year, according to the laws that govern the fund. The first tranche, of US$200 million (equivalent to $41.7 billion), was withdrawn in May of this year.
