Petroleum law sets limit of 60 oil blocks per company

Sep 25, 2017 News

But PPP gave ExxonMobil 10 times that number – Ram

Chartered Accountant, Chris Ram

According to Guyana’s laws, companies are to be awarded 60 oil blocks. But under the People’s Progressive Party (PPP), USA oil giant, ExxonMobil was granted approximately 10 times the amount. This was unearthed recently by Chartered Accountant, Chris Ram.
In his recent writings, the lawyer noted that it was on June 14, 1999 that a Petroleum Agreement and Prospecting Licence was signed by former President Janet Jagan granting approximately 600 blocks.
Ram noted that this was an obvious error by the then PPP/C Government.
He said, “In the first place, Janet Jagan granted the company a Prospecting Licence over approximately six hundred blocks when the law sets a limit of 60 blocks, except where special reasons exist for a larger number.”
The Chartered Accountant stressed that it would not be easy to justify an excess of nine times.
He also stated that those who granted such an excess should be called upon to explain to the nation what were the special circumstances under which it was granted.