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Exploration costs

Kenrick Hunte - ExxonMobil Guyana Limited profit squeeze
  • Kenrick Hunte

ExxonMobil Guyana Limited profit squeeze

News EditorJanuary 22, 2024January 24, 2024011 mins

A distinguishing feature of the Production Sharing Agreement (PSA) between ExxonMobil Guyana Limited (EMGL) and the Government of Guyana (GOG) is the contrived way in which total cost is specified in the business. In particular, the total cost (TC) is specified as: TC = 0.75TR = 0.75PQ, where TR is total revenue, P is the…

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Chris Ram's Articles
  • Chris Ram

Esso Exploration and Production Guyana Inc. reports $6.5 billion loss in 2020

News EditorJune 22, 2021February 5, 2024010 mins

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 90 – June 22, 2021 Introduction Esso Exploration and Production Guyana Inc. (Esso), the largest of three partners in the Stabroek Block, with a 45% share under the 2016 Petroleum Agreement, has declared a loss of $6,516 million in 2020. This compares with…

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Chris Ram's Articles
  • Chris Ram

Esso’s, Hess’ and CNOOC/Nexen’s Recoverable Costs mount

News EditorJuly 26, 2019February 5, 202409 mins

Every Man, Woman and Child in Guyana Must Become Oil-Minded – Part 71 – July 26, 2019 Introduction  Today’s column summarises some of the principal information extracted from the audited financial statements of the three Contractors to the Petroleum Agreement signed on June 27, 2016. The financial statements are filed with the Commercial Registry and…

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