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UK firm paid US$300,000 to audit ExxonMobil’s US$460M pre-contract costs

Dec 17, 2019 News

UK firm IHS Markit will be paid US$300,000 to audit ExxonMobil’s US$460M pre-contract costs as stated in the Production Sharing Agreement (PSA) inked with the Government of Guyana.
Making this revelation yesterday at a press conference was Energy Department Head, Dr. Mark Bynoe.
The official said that the company commenced its work with an in-country visit on December 9 – 11, 2019, while noting that the Department of Energy and the Guyana Geology and Mines Commission (GGMC) will be working along closely with the Guyana Revenue Authority (GRA) on this project.
Additionally, Dr. Bynoe said that the Energy Department has secured the legal expertise to assist the audit process. He further noted that the audit is expected to last for four months.
As to whether the report on findings of the audit would be made public, Dr. Bynoe said it is a matter that would have to be discussed with the revenue authority.
IHS Markit Ltd. is a global diversified provider of critical information, analytics, and solutions. The company offers next-generation information, analytics and solutions to customers in business and finance which also serves to improve their operational efficiency and provide deep insights.
IHS Markit also serves business and government customers worldwide.

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