AFC demands full breakdown of Stabroek Block expenses

(Kaieteur News) – Interim leader of the Alliance For Change (AFC) and former Minister of Public Infrastructure, David Patterson is calling on the Government of Guyana (GoG) to clearly state the costs that ExxonMobil is still taking the country’s oil to pay for, raising worrying questions about the country’s profit share as announced by President Irfaan Ali.

During a press conference last month, President Ali revealed that Exxon has recovered its US$55B investments made in Guyana, thereby increasing the country’s share of profits from 12.5% to 39.8%.

The Head-of-State also explained that instead of 75% of oil being used to meet expenses for the operator, Exxon’s costs are now 20%. In response, Patterson raised a series of questions for the President, including a request for a detailed list of the current expenses for the operator.