Guyana working to secure up to US$2 billion insurance from Exxon for Yellowtail project

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.