-for US$214 million oil dispute
-by Kimberly Giddings
The Government of Guyana and ExxonMobil are in advanced discussions to appoint a mutually agreed independent expert to help resolve a US$214 million cost recovery dispute linked to the company’s first oil audit. The disagreement stems from costs flagged during an audit of ExxonMobil’s operations covering the period 1999 to 2017.
Speaking on the matter, ExxonMobil Guyana Limited Business Services Manager John Colling said both parties are actively working towards identifying a neutral sole expert who will ultimately determine the outcome of the claim.
Colling explained that while a final selection has not yet been made, discussions have progressed on a process that will lead to the appointment of the expert.
“As sole experts are considered, they must meet a number of qualifications that are acceptable to both parties.And certainly, objectivity is one of them. So that is one of the criteria that we are discussing with the government, as well as experience,” he explained.
He said Exxon is willing to work with the government as long as it takes to bring this matter to resolution.
“I can assure you ExxonMobil Guyana Limited, as well as the government, are diligently working to find a sole expert which is acceptable to both parties. If the two parties are unable to arrive with a neutral selection, it can be referred to the France-based International Chamber of Commerce to make the selection,” he said.
Colling said that might very well be the next step for the process.