Guyana to earn 2% royalty from Liza field production; project deemed “technically sound” | Guyana Community Discussion Forums

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June 1,2017

Guyana will be earning a 2% royalty on gross earnings from the Liza oil field production.

This will come, along with a 50/50 Production Sharing Arrangement, in which Guyana earns half of the ‘profit oil’ revenue while the other half goes to ExxonMobil, Hess and Nexen to be divided among them according to their stake in the joint venture investment. ExxonMobil’s subsidiary Esso Exploration and Production Limited (EEPGL) is operator and holds 45 percent interest, Hess Guyana Exploration Ltd. holds 30 percent interest and Chinese company CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

read more click on link

http://oilnow.gy/production/ju...d-technically-sound/

Former Member

Well they will get 2% because you know full well that Exxon will produce at a loss.

The 2% will be used to buy votes in 2020. Trotman is young enough and probably has ambition to be president. Only problem is that the "old solja boys" want to get as much as they can before then, and don't care if they totally alienate their base while they do so.

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