Tag Archives: production sharing agreement

The Chief Executive Officer of Suriname’s state-0wned oil company, Staatsolie, has been boasting that his country has clinched a far superior production sharing agreement with TotalEnergies compared to Guyana’s with ExxonMobil and its co-venturers. He said while Guyana has 2 percent royalty and 50 percent profit split and no taxes, Suriname’s agreement provides for 6.25 percent royalty, profit split based ...

Guyana is this year expected to lift and sell five million barrels of crude oil being extracted from the Liza-1 well from the ExxonMobil-led consortium under the banner of Esso Exploration and Production Guyana Limited (EEPGL), Director of government’s Department of Energy, Dr Mark Bynoe said Tuesday. “I am happy to say that Guyana is entitled to approximately five million ...

The newly-formed Change Guyana (CG) political party on Tuesday vowed to renegotiate all existing contracts with oil companies to get higher royalties and suspend the award of new concessions pending those talks. Addressing CG’s launch at the Pegasus Hotel, prime ministerial candidate, Nigel Hinds made known his party’s position on the issue at a time when there is lingering debate ...