gogechamberNov 3, 20211 min readGuyana working to secure up to US$2 billion insurance from Exxon for Yellowtail projectThough there exists an “implicit” understanding that ExxonMobil Corporation would cover the shortfall of expenditure associated with any environmental damage its affiliate Esso Exploration and Production Guyana Limited (EEPGL) cannot handle for the respective Stabroek Block operations, the Guyana government is still pursuing a formal guarantee. On Monday, Vice President, Dr. Bharrat Jagdeo said the government is looking to get as much as US$2B from the parent company to cover any damage in the South American country.
Though there exists an “implicit” understanding that ExxonMobil Corporation would cover the shortfall of expenditure associated with any environmental damage its affiliate Esso Exploration and Production Guyana Limited (EEPGL) cannot handle for the respective Stabroek Block operations, the Guyana government is still pursuing a formal guarantee. On Monday, Vice President, Dr. Bharrat Jagdeo said the government is looking to get as much as US$2B from the parent company to cover any damage in the South American country.
EXXONMOBIL REPORTS TWO FURTHER OIL FINDS OFF THE COAST OF GUYANA. ExxonMobil has added two new development opportunities to its broad portfolio with the announcement of two discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore of Guyana. Sin