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AFC government to introduce laws to release key oil and gas documents – Patterson
– Release oil and gas policy as soon as possible
Kaieteur News – The Alliance for Change (AFC) is about to release the party’s oil and gas policy, a carefully crafted document designed to ensure prudent management of the industry.
AFC President David Patterson
The party’s chairman, David Patterson, recently revealed that the first of about 18 policies is aimed at ensuring transparency and sharing information with the public. “We have 18 different policy statements and every week we announce one. The first one is about transparency, accountability and access to information,” the former public infrastructure minister revealed in an interview. Kaieteur Newsduring a break in a parliamentary session.
Paterson added: “There will be time limits and it will be written into law so under a Change Coalition government, journalists will not have to ask for this information – it will be made public… so no politician can ever again say information cannot be made available to the public.”
He stressed that the Field Development Plan (FDP) for the petroleum project has not yet been released, so the public cannot hold the government and the operator of the Stabroek Block, ExxonMobil Guyana, accountable for the development of its petroleum resources.
Furthermore, the former minister noted that despite repeated government promises, the agreement for the gas-to-power project still needs to be worked out in the National Assembly. Patterson believes that these documents contain critical information that should be shared with citizens.
Kaieteur News It is understood the AFC’s oil and gas policy will also reflect the party’s stance on areas such as segregation and wastewater treatment. Patterson, who was busy with parliamentary business at the time, briefly promised the first policy would be released on Friday.
“Enclosure” in the oil industry is a financial term that means that each oil project should be self-sustaining. In Guyana, politicians did not set up enclosures for projects in the Stabroek block. As a result, the revenue generated by the three projects that are currently producing oil is used to pay for other projects currently under development. Therefore, the lack of enclosures shortens the profit sharing with Guyana. Every month, ExxonMobil can deduct up to 75% of the costs of Guyana’s oil. The remaining 25% is shared with the country as profit, and the country receives an additional 2% royalties every quarter.
International experts have often urged Guyana to regulate these projects to ensure the country reaps early benefits from the industry.
The AFC had previously expressed support for special regulation of the Stabroek block project, but its main opposition partner, the National People’s Congress for Reform (PNC/R), remained hesitant to decide on the issue.
PNC/Fianna Fáil leader Aubrey Norton said while earmarks could have benefits, his party would still need to evaluate each project individually to determine whether to go that route.
Previously won the 2015 January election officially declared split The two sides disagreed on a range of issues in 2023. But they agreed to maintain cordial relations and work to address the “BJP corruption problem.”
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