By Tracy Ramalho
Attorney General Anil Nandlall has highlighted the government’s efforts to ensure that citizens benefit from Guyana’s oil wealth, despite constraints imposed by the current Production Sharing Agreement (PSA).
Nandlall criticized the negotiation process of the agreement by the previous coalition government during an interview over the weekend.
According to Nandlall, the 2016 Production Sharing Agreement was signed by the APNU/AFC government without informing the National Assembly or conducting any public consultations.
He emphasized that the government is bound by the terms of the PSA, which limit the licenses issued under the agreement.
However, Nandlall assured that the PPP government has implemented mechanisms to ensure that Guyanese citizens derive benefits from the country’s oil resources.
He pointed out differences in licenses granted to ExxonMobil for operations such as Payara, Yellowtail, Uarau, and Whiptail, compared to those issued under the previous administration.
Nandlall highlighted regulatory improvements made by the current government, including regulations on flaring and ensuring the capability to cap wells to prevent oil spills.
These measures not only benefit Guyanese citizens but also contribute to making Guyana an attractive investment destination.
Despite the challenges posed by the existing PSA, the government remains committed to addressing restrictions and maximizing the benefits of Guyana’s oil wealth for its citizens.