ExxonMobil lumped all of the expenses for the construction of the multibillion dollar Ogle Headquarters, upgrades for its Duke Street office and the Houston Shorebase, under the Stabroek Block’s cost recovery and this should not be, as the company will use the facilities for operations of other blocks, the US$7.2 billion audit of its 2018-2020 expenses has stated.
As it pertained to Capital Expenditures and Shared Costs, the audit said that facilities that serve all Guyana blocks were charged 100% to Stabroek, including, the new Ogle office complex construction, Duke Street office improvements, and shorebase expansions.
“The contractor was clear that Stabroek should pay for 100% of the cost…” the audit said as it pointed out that the company’s rationale was that without the Stabroek block, the in-country footprint would be minimal and there would be no need for a new office.
