{"id":30335,"date":"2026-06-09T19:32:00","date_gmt":"2026-06-09T23:32:00","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=30335"},"modified":"2026-06-09T19:32:00","modified_gmt":"2026-06-09T23:32:00","slug":"exxon-sets-aside-over-100-billion-for-decommissioning","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/exxon-sets-aside-over-100-billion-for-decommissioning\/","title":{"rendered":"Exxon sets aside over $100 billion for decommissioning"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p class=\"wp-block-paragraph\">-says talks with gov&#8217;t on shared fund &#8216;productive&#8217;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">-by Jarryl Bryan<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With $102.7 billion already set aside for decommissioning costs,\u00a0ExxonMobil Guyana says discussions with the government\u00a0on establishing a shared decommissioning fund\u00a0are progressing positively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Decommissioning costs are covered by the $102.7 billion\u00a0in asset retirement obligations\u00a0within ExxonMobil Guyana Limited EMGL&#8217;s financial statements for 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Up to last year, talks were ongoing with the government and EMGL\u00a0on transferring the monies to a joint decommissioning fund. During a press conference at Exxon&#8217;s headquarters today,\u00a0EMGL Vice President and Business Services Manager John Colling\u00a0described the talks as productive.\u00a0He went on to lay out the company&#8217;s expectations for the fund.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;What we&#8217;re looking for is a fund that is consistent with the Petroleum Act\u00a0as well as international best practices\u00a0that ultimately provides the financial assurance\u00a0required by the government of Guyana,&#8221; he explained. <\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"798\" height=\"523\" src=\"https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2026\/06\/colling.jpg\" alt=\"\" class=\"wp-image-30337\" srcset=\"https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2026\/06\/colling.jpg 798w, https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2026\/06\/colling-300x197.jpg 300w, https:\/\/ncnguyana.com\/2023\/wp-content\/uploads\/2026\/06\/colling-768x503.jpg 768w\" sizes=\"(max-width: 798px) 100vw, 798px\" \/><figcaption class=\"wp-element-caption\">John Colling<\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">The decommissioning fund is critical\u00a0as it covers the costs of dismantling an oil and gas facility\u00a0once its productive life ends.\u00a0Colling made clear that Exxon will honour its obligations\u00a0and cover all decommissioning costs it is liable for.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;So all projects will ultimately need to be decommissioned. Once they&#8217;re brought into use,\u00a0that&#8217;s when we begin to approve a liability for decommissioning,&#8221; he said. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>-says talks with gov&#8217;t on shared fund &#8216;productive&#8217; -by Jarryl Bryan With $102.7 billion already set aside for decommissioning costs,\u00a0ExxonMobil Guyana says discussions with the government\u00a0on establishing a shared decommissioning&hellip;<\/p>\n","protected":false},"author":1,"featured_media":30336,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,350,428],"tags":[488,1071,370,412,405,431],"class_list":["post-30335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-news","category-oil-gas","tag-488","tag-exxon","tag-guyana","tag-ncn-guyana","tag-ncn-news","tag-oil-and-gas"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/30335","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=30335"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/30335\/revisions"}],"predecessor-version":[{"id":30338,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/30335\/revisions\/30338"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/30336"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=30335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=30335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=30335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}