Opposition Member of Parliament (MP) Sherod Duncan on Thursday called on the Government of Guyana (GoG) to honour its 2020 campaign manifesto promise and renegotiate the 2016 Production Sharing Agreement (PSA) signed with ExxonMobil Guyana Limited for the development of oil and gas resources in the Stabroek Block. He made this call, even though the government has said time and again, that it never made a promise to do so, specifically for that contract.
Be that as it may, the parliamentarian said more than three years have passed since the PPP-government assumed office in August 2020 and it has not changed “a single word” in the contract. “You know why? Because the deal sweet to fund all of your projects,” Duncan said.
Duncan also suggested that the government is benefiting significantly from the work of the David Granger-administration, highlighting that it was the previous administration which secured a two-percent royalty instead of one-percent in the Stabroek Block deal. In October 2016, the PSA was signed by then Minister of Natural Resources, Raphael Trotman with the Exxon-led consortium.
During his address, Duncan reminded that while in opposition the PPP/C had criticised the deal for being lopsided. “Let us also be fair, you promised in your campaign, in your extract of a campaign manifesto that you are going to amend that Production Sharing Agreement, because we didn’t know about making (a) deal,” the MP added.
He stated that the government has now resorted to hiding behind the principle of sanctity of contract because it is unable to fulfill its manifesto promise. Duncan also urged the government to cease hiding behind the “sacred-veil” of contract sanctity and to fulfill its campaign pledge.
“You are Donald Trump and you can get a better deal, you are the deal maker so change the contract, stand on your promises… amend the contract, get a better deal…” the politician charged.
