{"id":18725,"date":"2024-04-16T15:32:55","date_gmt":"2024-04-16T15:32:55","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=18725"},"modified":"2024-04-16T15:32:57","modified_gmt":"2024-04-16T15:32:57","slug":"government-committed-to-addressing-restrictions-in-production-sharing-agreement","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/government-committed-to-addressing-restrictions-in-production-sharing-agreement\/","title":{"rendered":"Government Committed to Addressing Restrictions in Production Sharing Agreement"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>By Tracy Ramalho<\/p>\n\n\n\n<p>Attorney General Anil Nandlall has highlighted the government&#8217;s efforts to ensure that citizens benefit from Guyana&#8217;s oil wealth, despite constraints imposed by the current Production Sharing Agreement (PSA). <\/p>\n\n\n\n<p>Nandlall criticized the negotiation process of the agreement by the previous coalition government during an interview over the weekend.<\/p>\n\n\n\n<p>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. <\/p>\n\n\n\n<p>He emphasized that the government is bound by the terms of the PSA, which limit the licenses issued under the agreement.<\/p>\n\n\n\n<p>However, Nandlall assured that the PPP government has implemented mechanisms to ensure that Guyanese citizens derive benefits from the country&#8217;s oil resources. <\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Nandlall highlighted regulatory improvements made by the current government, including regulations on flaring and ensuring the capability to cap wells to prevent oil spills. <\/p>\n\n\n\n<p>These measures not only benefit Guyanese citizens but also contribute to making Guyana an attractive investment destination.<\/p>\n\n\n\n<p>Despite the challenges posed by the existing PSA, the government remains committed to addressing restrictions and maximizing the benefits of Guyana&#8217;s oil wealth for its citizens.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Tracy Ramalho Attorney General Anil Nandlall has highlighted the government&#8217;s efforts to ensure that citizens benefit from Guyana&#8217;s oil wealth, despite constraints imposed by the current Production Sharing Agreement&hellip;<\/p>\n","protected":false},"author":4,"featured_media":18726,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[360,350,351],"tags":[],"class_list":["post-18725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-news","category-politics"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/18725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=18725"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/18725\/revisions"}],"predecessor-version":[{"id":18727,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/18725\/revisions\/18727"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/18726"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=18725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=18725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=18725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}