Exxon paid US$18m bonus for 10-year extension of agreement – Henson
After months of evasion, the government today released the production sharing agreement with ExxonMobil’s subsidiary, EEGLP and the company’s local head, Rod Henson said that the the US$18m signing bonus was paid for the 10-year extension of the pact.
The agreement is available below:
The government unveiled the agreement in a blaze of publicity in the Rupununi Room of the Ministry of the Presidency in the presence of President David Granger, his Cabinet and other officials but without any representative of the PPP/C whose leader, Bharrat Jagdeo also boycotted.
Representatives from civil society and the media were on hand to hear Minister of Natural Resources, Raphael Trotman defend the government’s decision to seek an extension of the agreement and make minor modifications to it.