There can be no greater act of patriotism than to have a COI into oil and gas –Chris Ram

Oct 14, 2018 News

Chartered Accountant,
Chris Ram

By Kiana Wilburg
Chartered Accountant, Christopher Ram is of the firm view that a Commission of Inquiry (COI) is urgently needed into the burgeoning oil and gas sector.
He said that this is crucial especially when one considers the level of ambiguity that surrounds a number of fundamental oil related matters as well as the “amateurish” approach of the coalition administration to the sector.
In his most recent writings, the Oil and Gas Academic noted that among the witnesses who should be summoned to give evidence and to assist the Commission and therefore the country should be Newel Dennison, Commissioner (ag) of the Guyana Geology and Mines Commission (GGMC); Robert Persaud, Minister of Natural Resources in the last Administration; Donald Ramotar, former President; Raphael Trotman, Minister of Natural Resources; Joseph Harmon, Minister of State in the Ministry of the Presidency; Foreign Affairs Minister Carl Greenidge; Dr. Mark Bynoe, newly-appointed Head of the Department of Energy in the Ministry of the Presidency; Dr. Vincent Adams, an expert in the petroleum sector; and Civil Society Activists Mrs. Annette Arjoon-Martins, Mr. Ramon Gaskin, Mr. Nigel Hinds, Ms. Melinda Janki, Mr. G.H.K. Lall and Dr. David Singh.
Ram opined, “Also to be called would be representatives of the oil companies, which hold prospecting licences and some of our own other Guyanese who have expertise, which they can share. Ideally, I would like to see a seven-person Commission headed by a Norwegian and comprising experts from Botswana, Chile, Canada and Trinidad and Tobago and two Guyanese.”
He said, too, that some of the matters, which the COI should address are the origin and source of the Model Agreement used for the June 1999 Petroleum Agreement signed by President Janet Jagan and Esso Exploration and Production Guyana Limited; factors influencing the decision to grant to ESSO (now referred to as ExxonMobil) a significantly greater number of blocks than were ordinarily permitted in the petroleum legislation; the circumstances and negotiations leading up to the 2008 Addendum; and the circumstances and the negotiations leading up to the signing of new Petroleum Agreement in 2016.
Ram also suggested that this might be the right time to review the question of a refinery, the development and use of gas from the oil blocks, the proposed Sovereign Wealth Fund and preventing the Dutch Disease afflicting Guyana.
The Oil and Gas Academic said he is unable at this stage, having observed the unpredictability of President David Granger, to guess whether he will respond favourably to a call for him to use his prerogative power to set up such a COI.
Be that as it may, Ram commented, “I sincerely hope that the private sector, civil society, individuals, the parliamentary opposition and even the member parties of the coalition Government will recognize the necessity for such an Inquiry. I do not believe that there is anyone in Guyana who has all the answers to the issues and questions raised above, and those which have not been raised.”
The lawyer added, “Whatever information and whatever knowledge those in authority possess, they obtained as representatives and trustees of Guyana. They, therefore, owe a duty not only to answer questions but to become better informed about oil and gas and to manage what will soon be the dominant sector of the Guyana economy in the interest of current and future generations.”
In Ram’s view, there can be no greater act of patriotism than to participate fully in such an exercise.

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