(Kaieteur News) – Guyana’s government is seeking experts’ advice on the financing arrangements for future oil projects in the Stabroek Block, as approving new developments for Exxon could again reduce Guyana’s profits to 12.5%. These plans however should have already been in place according to Leader of the Opposition, Azruddin Mohamed.

Mohamed said this week that Guyana has been producing oil since December 2019 and should have already discussed and crafted a policy to address financing of additional oil projects after Exxon recovers the significant investment made so far to develop the projects that have been approved to date.

The leader of the We Invest in Nationhood (WIN) party argued, “This government is reactive. Something happens, they get exposed, the opposition calls them out, the public demands answers, and then suddenly they seek expert advice. Guyana has been producing oil for years. Where was the preparedness? Where was the expertise? Where were the systems?”