In a recent press conference, leader of the PPP Bharrat Jagdeo has made it clear that the PPP will not make any changes to the Exxon Oil Contract. Any improvements to oil contracts will only apply to “new, future developments outside of the Stabroek block” Jagdeo explained.
While campaigning for the 2020 elections the PPP spared no effort in their attempt to leave their supporters with the impression that they would renegotiate the Exxon contract. For the many who chose to give the PPP their vote based on that promise, this change in position represents a gross betrayal of trust.
Furthermore, all new contracts negotiated by the APNU+AFC government outline a 60% production share for Guyana. The 2018 contract between Guyana and Tullow for the Orinduik Block is a good example of the improved contract model.
This compares to the 50% production share arrangement in the Stabroek Block agreement negotiated by the PPP in 1999. This shows that the APNU+AFC coalition government has already developed a significantly improved contract model that the PPP has only to implement.
More, In The Ring.
