It is simply unheard of for a company to just quote a figure to be paid, whether by another company, a person, or a government, without at least giving a breakdown of the expenses.
So said Chartered Accountant, Nigel Hinds, yesterday as he expressed his concerns about the US$460M pre-contract cost that ExxonMobil wants Guyana to pay.
Guyana is now hurrying to put measures in place to monitor and assess cost recovery claims. However, it has already tied itself to the repayment of US$460,237,918. This is according to the 2016 Petroleum Sharing Agreement (PSA) that Minister of Natural Resources, Raphael Trotman, signed with ExxonMobil.
Nigel Hinds
February 10th, 2018