(Kaieteur News) – Although risks have been removed from the Stabroek Block with all US$55B investments recovered by ExxonMobil, the Government of Guyana (GoG) is still refusing to engage the company for a renegotiation of the lopsided agreement which is permitted under the 2016 Petroleum Agreement.

During a press conference on Tuesday, President Irfaan Ali was asked by this newspaper whether he would request a renegotiation of the deal given that the operations are now risk-free.

In his presentation, the President revealed that ExxonMobil had recouped all of its investments, positioning the country to now receive 39.8% of profits, compared with the previous 12.5% share.