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Trotman felt “discomfort” before signing worst oil deal in the world
– said his hesitancy didn’t go down well with Exxon
Kaieteur News – Former Natural Resources Minister, Raphael Trotman has provided greater insight into the circumstances that led to the signing of the internationally condemned Stabroek Block Production Sharing Agreement (PSA).
In his latest book titled, ‘From Destiny to Prosperity,’ Trotman alluded that there was a high degree of pressure from ExxonMobil’s top brass to sign the contract, now regarded by some stakeholders as the worst in the oil industry. The former minister said specifically in the book that he felt a degree of discomfort prior to signing.
In the publication, Trotman said the former APNU+AFC Cabinet had approved the signing of the revised PSA in June 2016. While the actual draft was not presented before Cabinet, he said the Cabinet Memo contained a brief on all of the main clauses that required approval. Despite Cabinet’s approval, Trotman wrote that there was a delay in moving to sign. He didn’t indicate what were the reasons for the delay.
He said, “The Legal Officer and I harboured some discomfort about signing. This did not seem to go down well with Exxon’s top-brass, so much so, that later in June, a delegation, led by a Vice-President arrived in Guyana for meetings with the President. The meeting was held in June, 2016, and I was one of the Ministers present.”
Trotman added, “Suffice to say that after that meeting, I left with the clear belief and understanding that the signing of the agreement must be proceeded with forthwith. Thus, the date of June 27, 2016, was earmarked for signing in Georgetown, Guyana.”
The former minister said the signing took place in Guyana on the evening of June 27, 2016, and in the presence of representatives of the Ministry of Natural Resources, Hess, China National Offshore Oil Co., and Sir Shridath Ramphal who was designated by both the Government of Guyana and Exxon, Hess and CNOOC to be the “keeper” of the Bridging Agreement. That infamous bridging agreement or bridging deed was what paved the way for the 2016 contract to be extended without Exxon having to relinquish any portion of the Stabroek Block. The deed was also keep secret for some time, only leaked to the media four years after the signing of the contract.
Trotman said Mr. Rashid Mohamed, Registrar of the Supreme Court was also in attendance and was the one who sealed and certified the documents. Trotman said, “There was never any secret and clandestine signing of the agreement in Houston, Texas as alleged.”
Trotman has now, in his book, pledged support for the contract to be renegotiated. However, Vice President Dr. Bharrat Jagdeo, who has rejected calls for a better deal at every turn, has indicated that the government is unfazed.
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