Do not approve any additional oil projects without securing more for Guyana

Do not approve any additional oil projects without securing more for Guyana – Opposition Leader

Jun 22, 2022 News

Kaieteur News – Given that the Government of Guyana has already missed a “glorious” opportunity to rake in more value for Guyanese from its rich oil resource – by failing to use the Liza One Permit renewal to secure better terms from the oil operator, ExxonMobil – Leader of the Opposition, Mr. Aubrey Norton, is of the firm view that any future permit approval must bring additional benefits to Guyana.
Norton in an invited comment on Monday told Kaieteur News that he believes that in any negotiation, parties use their leverage to achieve their objectives; likewise the leaders in government must follow in the footsteps of other developed nations to ensure their people benefit from the oil wealth.
On May 31, the state-operated Environmental Protection Agency (EPA), renewed ExxonMobil’s permit to operate in the Liza One oil field, in the Stabroek Block, without inserting clauses that could benefit the people. Instead, the EPA added a mere US$5 for flaring of gas and settled for ‘assurance’ instead of insurance.
Meanwhile, the United States (US) oil company is currently seeking an approval for its fifth project-Uaru Plus. The EPA has since ordered that an Environmental Impact Assessment (EIA) be carried out to determine the risks involved with the operations.

Leader of the Opposition, Aubrey Norton

In this regard, Norton has made it clear that future projects must ensure the Guyanese benefits.
Norton said, “In a process of negotiation, you use the leverage you have to achieve your objectives and I think any government should use the leverage it has to achieve its objectives within the confines of the law and I think the government missed that opportunity and here we are.”
The Opposition Leader added, “I believe that in the nature of the government it is so corrupt that you don’t know why they don’t want to act but I do believe that we can engage in a civil manner, Exxon or all people involved in exploration and exploitation of our natural resources in a way that establishes that we the people must benefit.”
He noted in his preamble that now that it has been confirmed that Guyana has oil and is now the magnet for petroleum companies, it is critical for the leaders to pursue better benefits from its natural resource. According to him, “When we started these negotiations as a country you were dealing with a lot of risks, you didn’t know if there was oil there, etcetera, and I agree in principle that a company should be compensated for the risks but having now confirmed the level of oil and gas resources we have we should as a country pursue obtaining better benefits for this country.”
Norton was keen to note that developed nations such as the United States of America as well as Canada have been seeking additional benefits for its people and Guyana should do exactly the same. “If a big country like the United States of America, Canada if all of them are seeking more benefits for their people, why shouldn’t we? I think we should.”
When asked what specific measures he believes should be taken, Norton explained that as a political party it is important that he consult with the other parties involved before making a pronouncement. He shared that after consultations with the oil and gas team, the details will be shared at an appropriate time. “Don’t forget we are a political party that will have to produce a manifesto. We are a political party that will have to outline our vision and we have to be careful that we don’t put everything out there before the right time, so at the right time we will expound on it and not only will I be involved but the professionals. I have long said that no leader should operate as if he or she is the know it all. You are guided by a technical team and as the technical team when we meet and we complete all of our positions, we will put it in the public domain and the technical team together with the Leader and others will answer those questions,” Norton reasoned.

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