Dear Editor,
Refer to the NRF 2022 Annual Report (Bank of Guyana). For 2021, Guyana’s profit (excluding royalty) was approximately US$360 to 370M. Esso Exploration and Production Guyana Limited (EEPGL) 2022 financial summary shows 2021 profit of approximately US$633.4M (EEPGL only). The investors’ 2021 total profit was approximately US$1.4B. Guyana’s 2021 profit was approximately 21% of total profit. Maybe for 2021, 75% of gross revenue less royalty (Recovery Cost) was applied in the calculation of Guyana’s profit but a lower percentage for the investors’ profit.
Sincerely,
Gary Sampson
